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NY AG Letitia James triples crypto fraud lawsuit to $3B

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NY AG Letitia James triples crypto fraud lawsuit to B

New York Attorney General Letitia James on Friday expanded her lawsuit against Digital Currency Group and other cryptocurrency defendants, tripling the size of their alleged fraud scheme to more than $3 billion.

James had in October sued DCG, its Genesis Global Capital unit, and Gemini Trust, the exchange run by twin brothers Cameron and Tyler Winklevoss.

She claimed they caused more than $1 billion of losses by misleading investors about the Gemini Earn program, which let customers lend crypto assets to Genesis in exchange for a high rate of return.

MOST CRYPTO COMPANIES WILL ‘CRASH’ AFTER YEARS OF INDUSTRY PONZI SCHEMES: PALANTIR CO-FOUNDER

The attorney general said it had become clear as more investors came forward that “the scam perpetrated by DCG through Genesis” also ensnared investors who sent money directly to Genesis and were falsely assured their money was safe.

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Many of the additional investors were retail customers, including a chiropractor and a stay-at-home father who each invested $2 million of bitcoin with Genesis, the complaint said.

A visualization of the virtual cryptocurrency Bitcoin. (REUTERS/ Edgar Su)

James is seeking more than $3 billion of restitution for the more than 230,000 investors who she believes were defrauded.

“This illegal cryptocurrency scheme, and the horrific financial losses that real people have suffered, are yet another reminder of why stronger cryptocurrency regulations are needed to protect all investors,” James said in a statement.

DCG said Friday that James’ lawsuit was “baseless” and that it expects to win in court.

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“DCG has always conducted its business lawfully and with integrity, and DCG and Barry Silbert will be fully vindicated,” it said in a statement.

Genesis is shutting down after filing for bankruptcy in January 2023.

Late Thursday, it reached a settlement with James’ office, agreeing to pay on her fraud claims so long as it fully repays customers through the Chapter 11 process. That settlement requires a bankruptcy judge’s approval.

Representatives for DCG and Gemini did not immediately respond to requests for comment.

Barry Silbert, who is DCG’s chief executive, and Soichiro Moro, a former Genesis chief executive, are also defendants.

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Genesis filed for bankruptcy two months after halting withdrawals by Gemini Earn customers following the collapse of Sam Bankman-Fried’s FTX cryptocurrency exchange.

Both Genesis and Gemini were also sued by the U.S. Securities and Exchange Commission, which said they bypassed disclosure requirements meant to protect Gemini Earn customers.

Last week, Genesis agreed to pay the SEC a $21 million fine, also contingent on its repaying customers first.

Gemini, meanwhile, has sued DCG over their failure of their crypto lending partnership.

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Boston, MA

Monster effort from Neemias Queta helps pave the way for Celtics in win over 76ers – The Boston Globe

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Monster effort from Neemias Queta helps pave the way for Celtics in win over 76ers – The Boston Globe


Queta has been a revelation for the Celtics this season and helped them improbably surge into second place in the Eastern Conference. But it is unlikely he or his team envisioned nights like Sunday, when he crafted the best game of his career to propel Boston to a 114-98 win over the 76ers at TD Garden, its 11th in 13 games.

The 26-year-old center finished with 27 points and 17 rebounds and received ‘MVP’ chants several times in the fourth quarter.

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“I thought he’s had great ownership and responsibility to what it calls for to be a starting center for the Celtics, and he’s got to continue to get better,” Mazzulla said. “He works at it. He cares. So, it’s a credit to him.”

The Celtics, who entered the night averaging 17.1 second-chance points per game, poured in 30 Sunday, with Queta leading the charge. With 76ers center Andre Drummond often playing up and trying to congest the lanes for Boston’s talented ballhandlers, Queta forcefully and quickly found space around the rim.

“We just gave him the ball and trusted him to make the right decision every time, and he was able to get it going,” forward Jaylen Brown said. “He had some nice up-and-unders in the seam and stuff like that that helped propel us to a win.”

Brown added 27 points, 8 rebounds, and 8 assists for Boston.

Tyrese Maxey had 33 points to lead the 76ers, but they did not come easily. The All-Star guard played 43 minutes and made just 12 of 34 shots. Philadelphia was without star center Joel Embiid (oblique).

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“He didn’t have a ton of layups, didn’t have a ton of free throws,” Mazzulla said of Maxey. “I thought he obviously missed some good shots, but when you have the ball as much as he did, I thought we did a really good job just being disciplined, defending without fouling, keeping him out of transition.”

The Celtics improved to 40-20, with just 22 games remaining in the regular season. After the game, there was a visible reminder of what could be on the way.

Star forward Jayson Tatum, who could be nearing a return from last May’s Achilles injury, sat at his locker and laughed and joked with team staffers. He also posted the latest clip from the NBC docuseries about his comeback on his social media accounts.

Jayson Tatum, who has yet to play this season, liked what he saw from the Celtics bench.Danielle Parhizkaran/Globe Staff

For now, of course, the Celtics continue to plow forward without him. On Sunday, Boston quickly wiped away an early 10-point deficit behind Queta. He registered five offensive rebounds in the opening period, and flashed an unusual amount of offensive creativity during his dominant second quarter.

During one stretch, he danced through the lane for a basket, converted a putback, then dazzled the crowd by trailing a fast break, taking a pass from Brown, and converting an acrobatic scoop shot that gave Boston a 40-35 lead.

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“We don’t want him to get too carried away with some of those,” Brown said, smiling. “But he was converting them tonight and it looked good.”

Queta reminded everyone that much of his value comes from his defensive work when he swatted a Kelly Oubre Jr. shot out of bounds, and he received a rare standing ovation when he checked out moments later.

Neemias Queta’s performance put a smile on Celtics coach Joe Mazzulla.Danielle Parhizkaran/Globe Staff

Finally, after a well-executed two-for-one opportunity, Brown found Baylor Scheierman, who played with a splint on his broken left thumb, in the right corner; he hit a buzzer-beating 3-pointer that gave Boston a 62-50 lead at the break. Scheierman gave a high thumbs-up with his bandaged digit.

The Celtics led by 16 early in the third quarter, but the 76ers continued to push back. Three-pointers in the final minute by Quentin Grimes and Maxey made it 89-83 at the start of the fourth.

The 76ers trailed by 6 with four minutes left in the fourth quarter but missed their next five shots, any one of which could have put real pressure on Boston.

With 2:56 left, Queta converted a layup as he was fouled, stretching the lead back to 105-97. He received ‘MVP’ chants for the second time in the quarter when he went to the foul line. Then, with 1:56 left, he put an exclamation point on his memorable night by grabbing yet another offensive rebound and throwing down a two-handed dunk that made it 109-98.

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“I thought Neemi matched and exceeded the [76ers] physicality,” Mazzulla said.

Jaylen Brown has become the leader of the Celtics while Tatum has been away. Will Tatum returning cause locker-room drama?

Adam Himmelsbach can be reached at adam.himmelsbach@globe.com. Follow him @adamhimmelsbach.





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Pittsburg, PA

Police investigating two late-night McKeesport shootings

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Police investigating two late-night McKeesport shootings



Police are investigating two shootings that happened less than 30 minutes apart on Sunday night in McKeesport. 

Two men were injured in the shootings that happened at two different locations. 

Allegheny County Police said that the department’s Homicide Unit was requested and responded to assist in the shooting investigations.

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According to police, officers were first called to the area of Lysle Boulevard and Huey Street, where a man was shot just after 10:30 p.m. on Sunday night.

KDKA’s news crew at the scene saw the outside of the Sunoco gas station along Lysle Boulevard lined with crime tape and what appeared to be blood on the front door of the store. 

Police are investigating two late-night shootings that happened in McKeesport on Sunday. Officers were called to a gas station along Lysle Boulevard and an alleyway near Madison Avenue around 30 minutes apart Sunday night.It’s unclear at this time if the two shootings are related or connected.

KDKA Photojournalist Bryce Lutz

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Police also had an area taped off around the intersection of nearby 5th Avenue and Huey Street.  The man who was shot in the area was taken to the hospital in stable condition.

Police said they are also investigating a shooting that happened in the area of an alleyway behind Madison Avenue, where another man was shot Dispatchers said the second shooting happened around 25 minutes after the first.

The two shooting scenes in McKeesport are located around 1/4 of a mile apart.

At the second shooting scene, KDKA’s news crew at the scene saw police taping off an alleyway between Madison Avenue and Petty Street. 

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Police are investigating two late-night shootings that happened in McKeesport on Sunday. Officers were called to a gas station along Lysle Boulevard and an alleyway near Madison Avenue around 30 minutes apart Sunday night.

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KDKA Photojournalist Bryce Lutz


Officers at the scene were shining flashlights and looking into a black sedan that had its flashers on.  The man who was shot in the area of Madison Avenue was taken to the hospital in stable condition.

Police didn’t specify if the two shootings are believed to be related.



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Connecticut

Iranian Yale scholar in Connecticut celebrates fall of regime, calls for free elections

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Iranian Yale scholar in Connecticut celebrates fall of regime, calls for free elections


HARTFORD, Conn. (WFSB) – Thousands of Connecticut families with ties to Iran are watching and waiting as their home country undergoes a historic change.

Among them is Ramin Ahmadi, a Yale doctor, human rights activist and founder of the Iran Human Rights Documentation Center. He has spent decades advocating for freedom in Iran from his home in Connecticut.

Ahmadi moved to the United States when he was 18. On Saturday morning, he learned of military strikes in Iran and the death of the country’s supreme leader.

Ahmadi said protests for democracy and human rights in Iran intensified in December, drawing millions of participants — including his own family and friends.

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“The situation in Iran was a humanitarian emergency and it needed an intervention,” Ahmadi said.

He said he celebrated when he heard the news Saturday morning.

“I was celebrating along with all other Iranians inside and outside the country,” Ahmadi said. “I do regret that we cannot bring him to a trial for crimes that he has committed against humanity.”

Ahmadi said he spoke with his sister in Iran after she celebrated in the streets. She was later told to return home for her safety.

He shared a message she relayed from those around her.

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“They said do not let our death be exploited because worse than that is having to live with the criminals who have done this to us for the rest of our lives,” Ahmadi said. “We do not want to do that.”

For those questioning whether the conflict was America’s to engage in, Ahmadi offered a direct response.

“We will all be affected,” he said. “And to those that tell you that the U.S. and Israel are beating the drums of war in Iran, one has to remind them that it was not like before this Iranian people were listening to Beethoven’s Symphony No. 9 in D minor. We had a war already declared on us by this regime. We were being slaughtered on a daily basis.”

Ahmadi said he believes the path forward begins with young military officers forcing out what remains of the regime, followed by free elections.

“Everyone’s life will be safer in the future and not just Iranians,” Ahmadi said.

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Connecticut lawmakers are also responding to the U.S. strikes on Iran.



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