New York sues crypto firms, alleging fraud in $1B case ...Middle East

New York Attorney General Letitia James on Thursday filed a lawsuit against cryptocurrency companies, alleging $1 billion in fraud. James alleges that cryptocurrency trading companies Gemini Trust Company, Genesis Global Capital, LLC, its affiliates and Digital Currency Group (DCG) defrauded more than 230,000 investors. James’s investigation alleged that Gemini lied to investors about a program it ran with Genesis and the program’s risks. The lawsuit also alleges Genesis, its former CEO Soichiro Moror, the parent company DCG and DCG’s CEO Barry Silbert defrauded investors and the public by trying to conceal $1.1 billion in losses. “As a result of these misleading claims and decep

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