Federal Court Orders UK Man to Pay More Than $571 Million for Operating Fraudulent Bitcoin Trading Scheme

CFTC

The Commodity Futures Trading Commission today announced that the U.S. District Court for the Southern District of New York entered a default judgment against Benjamin Reynolds, purportedly of Manchester, England, finding that he operated a fraudulent scheme to solicit bitcoin from members of the public and misappropriated customers’ bitcoin. This case was brought in connection with the Division of Enforcement’s Digital Assets Task Force. read more »

Former CEO and Founder of Tech Start-Up Sentenced for $18 Million Investment Fraud Scheme

DOJ

The CEO and co-founder of Trustify Inc., a privately-held technology start-up company that connected customers with private investigators, was sentenced to over eight years in prison today for conducting a fraudulent scheme that led to the company’s collapse and resulted in over $18 million in losses to more than 250 individual and corporate investors.  read more »

Busted for insider trading, this former hedge fund manager is believed to be behind last week’s margin call mayhem

FORTUNE

Bill Hwang, a former hedge fund manager who’d pleaded guilty to insider trading, was deemed such a risk by Goldman Sachs Group Inc. that as recently as late 2018 the firm refused to do business with him. read more »