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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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Pittsburg, PA

Pittsburgh and Vegas take the ice for non-conference matchup

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Pittsburgh and Vegas take the ice for non-conference matchup


Vegas Golden Knights (28-17-14, in the Pacific Division) vs. Pittsburgh Penguins (30-15-13, in the Metropolitan Division)

Pittsburgh; Sunday, 1 p.m. EST

BETMGM SPORTSBOOK LINE: Golden Knights -149, Penguins +125; over/under is 6.5

BOTTOM LINE: The Pittsburgh Penguins and the Vegas Golden Knights square off in a non-conference matchup.

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Pittsburgh has a 14-8-7 record at home and a 30-15-13 record overall. The Penguins have scored 197 total goals (3.4 per game) to rank 10th in NHL play.

Vegas is 28-17-14 overall and 14-9-7 in road games. The Golden Knights are 27-6-8 in games they score at least three goals.

Sunday’s game is the first meeting between these teams this season.

TOP PERFORMERS: Anthony Mantha has 21 goals and 23 assists for the Penguins. Benjamin Kindel has six goals and one assist over the last 10 games.

Mark Stone has 21 goals and 38 assists for the Golden Knights. Pavel Dorofeyev has seven goals and three assists over the past 10 games.

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LAST 10 GAMES: Penguins: 7-1-2, averaging 4.2 goals, 7.1 assists, 3.3 penalties and 6.9 penalty minutes while giving up 2.5 goals per game.

Golden Knights: 4-4-2, averaging 3.5 goals, 5.8 assists, 2.6 penalties and 5.8 penalty minutes while giving up 3.3 goals per game.

INJURIES: Penguins: None listed.

Golden Knights: None listed.

___

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The Associated Press created this story using technology provided by Data Skrive and data from Sportradar.





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Connecticut

27 Wrestlers Named State Open Wrestling Champions In Connecticut Over Weekend; Xavier Dominates Tournament

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27 Wrestlers Named State Open Wrestling Champions In Connecticut Over Weekend; Xavier Dominates Tournament


Over the weekend, the two-day CIAC State Open wrestling championships took place at the Floyd Little Athletic Center in New Haven, Connecticut. 

Twenty-seven wrestlers (14 boys, 13 girls) were named champions in their respective weight classes, displaying intense wrestling featuring the best wrestlers across the state. 

Championship bouts started around 4:15 p.m. on Saturday and lasted about two hours. 

Below are the results from both the boys’ and girls’ state open championships. 

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106 lbs.: Xavier’s Josh Perez def. Stafford’s John Bean 17-2 (technical fall)

113 lbs.: Ridgefield’s Cole Desiano def. Suffield/Windsor Locks’ Peter Annis 8-0 (decision)

120 lbs.: Xavier’s Zack Dixon def. Somers’ Will Acorsi 12-0 (majority decision) 

126 lbs.: Windham’s Delmazio Despard def. Xavier’s Alexander Depratti 4-3 (decision) 

132 lbs.: Fairfield Warde’s Jude Grammatico def. Xavier’s Zaphyr Musshorn 2-1 (decision) 

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138 lbs.: Ledyard’s Lukas Boxley def. Terryville’s Ethan Bochman Rodriguez (pin)

144 lbs.: Xavier’s Braylon Gonzalez def. Ridgefield’s John Carrozza 3-1 (decision)

150 lbs.: Bristol Central’s Alex Lamarre def. Middletown’s Isaiah McDaniel 1-0 (decision)

157 lbs.: Newtown’s Antonio Arguello def. Notre Dame-West Haven’s Riley Storozuk 8-4 (decision)

165 lbs.: Gilbert/Torrington/Wolcott def. Trumbull’s Hubert Szymko 2-0 (decision)

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175 lbs.: Xavier’s Vincent Rivera def. Fairfield Prep’s Jack Lilly 14-10 (decision)

190 lbs.: Xavier’s Chase Catalano def. Fairfield Warde’s Dylan O’Brien 2-1 (decision)

215 lbs.: Lyme-Old Lyme’s Taiyo Gemme def. Staples’ Julian Rousseau (pin) 

285 lbs.: Shelton’s Chase Galke def. Ellington’s Jacob Palermo 3-0 (decision)

100 lbs.: South Windsor’s Sophia Gordon def. West Haven’s Isha Khanna (pin)

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107 lbs.: RHAM’s Brooke Heffernan def. New Milford’s Clara Reynolds 9-2 (decision)

114 lbs.: Branford’s Ava Gambardella def. Jonathan Law’s Selena Batres 6-0 (decision)

120 lbs.: Trumbull’s Jillian Blake def. Fairfield Warde’s Monica Flores Romero 17-1 (technical fall)

126 lbs.: Ellis Tech’s Adelina Tate def. Fairfield Ludlowe’s Ashlynn Cummings (pin)

132 lbs: Amity’s Eliana Selaris def. Daniel Hand’s Evely Lavigne (pin)

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138 lbs.: Stratford’s Winner Tshibombi def. Greenwich’s Gaby Aliaga 22-8 (majority decision)

145 lbs.: Stratford’s Gabriella Kiely def. New Milford’s Josephina Piel (pin)

152 lbs: Bunnell’s Matilda Tote def. Shelton’s Ella Piccirillo (pin)

165 lbs: Trumbull ‘s Marangelie Teixeira def. New Britain’s Kaydence Atkinson (pin)

185 lbs.: Platt’s Kayli Morris def. Bristol Central’s Shyann Bryan (pin)

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235 lbs.: Norwalk’s Jeily Euceda def. Maloney’s Arianna Bellamy (pin)

Xavier High School (Middletown, CT) has been the most dominant wrestling program in the state in recent memory. Once again, they stole the show in the state opens, winning its fifth-straight state open title.

The Falcons had seven wrestlers compete out of the 14 state open titles in the boys’ division and had five winners with two runner-ups. As a team, they totaled 218.5 points, which was 72 more points than any other team.



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Maine

‘Not only with tears, but with action’: Maine DOT honors two workers killed on duty

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‘Not only with tears, but with action’: Maine DOT honors two workers killed on duty


AUGUSTA, Maine (WABI) – An emotional day from Fairfield to Augusta, but felt throughout Maine and beyond, as state officials, community members and loved ones honored the lives of two Department of Transportation workers who tragically died in the field.

Maine DOT Commissioner Dale Doughty described the accident as “the nightmare that commissioners worry about.”

While working on Interstate 95 in January, Maine DOT workers James “Jimmy” Brown, 60, and Dwayne Campbell, 51, died after a driver failed to brake at a stop sign and crashed into a tractor-trailer traveling on the highway.

To honor the men’s commitment to public service and their legacy as fathers, outdoorsmen and Mainers, a procession including DOT officials, family members and more traveled to the Augusta Civic Center Saturday for a memorial service.

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Among those in attendance was Gov. Janet Mills, who remarked on who Brown and Campbell were and their dedication to their profession.

“Jimmy, as you know, worked for the Maine Department of Transportation for 12 years. Dwayne for more than 23 years,” Mills described. “We could count on Jimmy and Dwayne just as we could count on the 1,600 Maine dot workers who keep our roads and bridges safe every day.”

Brown was known for his humor and love of fishing, cars and his children.

Campbell got his start in the DOT by following in his father’s footsteps. Mills said at the service that Campbell loved his daughters and time spent outdoors.

For Commissioner Doughty, losses like this hit hard because of the closely bonded “family business” that DOT is.

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That family expands past state lines, as departments of transportation from New Hampshire and Vermont were present to show their support.

New Hampshire DOT State Maintenance Engineer Alan Hanscom said he called Maine DOT just hours after hearing of the accident to see what his crews could do to help.

“My employees are impacted or subject to the same dangers that Maine and every other state is,” Hanscom said of the importance of his attendance. “I have an employee that was killed in a motor vehicle crash some years ago, so it kind of hits home.”

Unfortunately, Doughty says accidents happen “quite frequently.”

Saturday’s event served not only as a commemoration but also as a call to action. Despite DOT’s training, Doughty says it is rendered useless if motorists put right-of-way employees in danger through reckless or distracted driving.

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Hanscom expanded: “People don’t realize that this is our office. You’re driving through our office space. We’d like you to give us some consideration and slow down and be mindful of where we are. Give us a little respect.”

Doughty mentioned that these dangers extend beyond DOT workers to everyone who does roadside work. Because of this, he says, agencies must join forces to develop solutions.

“I really think it’s time, and we have a meeting coming up in April, where we pull all agencies and all companies that work in the right-of-way, contractors, utilities, everyone to start to talk about that message,” Doughty said.

On the podium, Doughty told audiences: “Please help us carry forward their memory, not only with tears, but with action.”

On Thursday, the Joint Standing Committee on Transportation authorized the Maine Turnpike Authority to conduct a pilot program for speed enforcement in work zones. The legislation is now headed to the House and Senate.

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