Connect with us

Northeast

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

Published

on

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.

Advertisement

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.

Advertisement

“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.

Advertisement

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.

Advertisement

Read the full article from Here

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Northeast

New York AG orders Manhattan hospital to resume gender-transition treatment for transgender youth

Published

on

New York AG orders Manhattan hospital to resume gender-transition treatment for transgender youth

NEWYou can now listen to Fox News articles!

New York Attorney General Letitia James is instructing a Manhattan hospital to resume offering gender-transition treatment to transgender youth after it ended such treatments last month over funding threats from the Trump administration.

NYU Langone’s decision to close its Transgender Youth Health Program violated the state’s anti-discrimination laws by “jeopardizing access to medically necessary healthcare for some of the most vulnerable New Yorkers,” James wrote in a Feb. 25 letter first made public this week.

James’ office threatened “further action” if the hospital does not immediately resume offering hormone therapies, puberty blockers and other treatment to transgender youth.

New York Attorney General Letitia James is instructing a Manhattan hospital to resume offering gender-transition treatment to transgender young people. (Michael M. Santiago/Getty Images)

Advertisement

NYU Langone, one of the city’s largest hospital systems, said last month it would stop providing certain gender-transition treatments for patients under the age of 19.

“Given the recent departure of our medical director, coupled with the current regulatory environment, we made the difficult decision to discontinue our Transgender Youth Health Program,” NYU Langone spokesman Steve Ritea said in a statement at the time. “We are committed to helping patients in our care manage this change. This does not impact our pediatric mental health care programs, which will continue.”

The hospital ceased admitting new patients into its transgender youth program last year after President Donald Trump signed an executive order entitled “Protecting Children from Chemical and Surgical Mutilation,” which aims to restrict gender-transition treatment for people under 19.

The U.S. Department of Health and Human Services has announced a proposal to cut federal Medicaid and Medicare funding to hospitals that provide these treatments to transgender young people. (Andrew Harnik/Getty Images)

Referencing Trump’s order, the U.S. Department of Health and Human Services later announced a proposal to cut federal Medicaid and Medicare funding to hospitals that provide these treatments to transgender youth.

Advertisement

But the Feb. 25 letter signed by the attorney general’s health care bureau chief, Darsana Srinivasan, said the proposal did not officially change federal law and did not affect a “medical institution’s existing duties and obligations under New York law.”

“The sudden discontinuation of medically necessary transgender healthcare can have severe, negative health outcomes,” Srinivasan wrote. “Accordingly, the Attorney General is extremely concerned by your institution’s decision to cease the provision of care to this vulnerable, minority population.”

LETITIA JAMES SUES HHS OVER TYING FEDERAL FUNDS TO TRANSGENDER POLICY

NYU Langone said last month it would stop providing certain gender-transition treatments for patients under the age of 19. (Stephanie Keith/Bloomberg via Getty Images)

CLICK HERE TO DOWNLOAD THE FOX NEWS APP

Advertisement

The letter gives the hospital until March 11 to show its compliance, although it is unclear what steps would be taken if it fails to resume the treatments.

Several other hospitals across the country have also halted transgender youth treatments following Trump’s executive order and funding threats.

The Associated Press contributed to this report.

Related Article

Top New York hospital to end transgender program for minors

Read the full article from Here

Advertisement
Continue Reading

Boston, MA

Charlotte plays Boston on 5-game win streak

Published

on

Charlotte plays Boston on 5-game win streak


Charlotte Hornets (31-31, ninth in the Eastern Conference) vs. Boston Celtics (41-20, second in the Eastern Conference)

Boston; Wednesday, 7:30 p.m. EST

BETMGM SPORTSBOOK LINE: Celtics -6.5; over/under is 214.5

Advertisement

BOTTOM LINE: Charlotte is looking to keep its five-game win streak alive when the Hornets take on Boston.

The Celtics are 27-13 against Eastern Conference opponents. Boston is sixth in the NBA with 46.2 rebounds led by Nikola Vucevic averaging 8.8.

The Hornets are 19-21 in conference matchups. Charlotte is 7-8 when it turns the ball over less than its opponents and averages 15.0 turnovers per game.

The Celtics average 15.5 made 3-pointers per game this season, 2.7 more made shots on average than the 12.8 per game the Hornets allow. The Hornets average 16.0 made 3-pointers per game this season, 2.1 more made shots on average than the 13.9 per game the Celtics allow.

TOP PERFORMERS: Jaylen Brown is averaging 29 points, 7.1 rebounds and five assists for the Celtics. Payton Pritchard is averaging 17 points and 5.8 assists over the past 10 games.

Advertisement

Kon Knueppel is averaging 19.2 points, 5.5 rebounds and 3.5 assists for the Hornets. Brandon Miller is averaging 22.7 points, 5.3 rebounds and 3.6 assists over the past 10 games.

LAST 10 GAMES: Celtics: 8-2, averaging 109.4 points, 50.7 rebounds, 27.1 assists, 6.1 steals and 6.4 blocks per game while shooting 45.7% from the field. Their opponents have averaged 98.5 points per game.

Hornets: 7-3, averaging 117.3 points, 47.8 rebounds, 27.4 assists, 8.5 steals and 4.2 blocks per game while shooting 45.6% from the field. Their opponents have averaged 106.2 points.

INJURIES: Celtics: Jayson Tatum: out (achilles), Neemias Queta: day to day (rest).

Hornets: Coby White: day to day (injury management).

Advertisement

___

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



Source link

Continue Reading

Pittsburg, PA

2 young girls found dead in suitcases in Cleveland, police say

Published

on

2 young girls found dead in suitcases in Cleveland, police say


The bodies of two young girls were found inside suitcases in Cleveland, Ohio, police said on Tuesday. 

In a press conference, Cleveland Police Chief Dorothy Todd said on Tuesday that the bodies of the two girls were found in suitcases buried in shallow graves on Monday evening. One of the girls was believed to be between the ages of 8 and 13 years old, while the other was believed to be 10 to 14 years old. Neither girl was identified as of Tuesday night. 

“This is a priority,” Todd said during Tuesday’s press conference. “This is a traumatic event for our officers, for the community, and this is just such a tragic incident, but we are trying to develop any leads we can.”

Police said there are no active missing persons reports in Cleveland that match the two victims. 

Advertisement

Officials said someone walking their dog near East 162nd Street and Midland Avenue found what appeared to be a body inside a suitcase around 6 p.m. on Monday. When officers responded to the scene near Ginn Academy, they found one of the bodies stuffed in a suitcase in a shallow grave. The second shallow grave with the body stuffed in a suitcase was found after officers searched the area.

“This is a field close to the school over there,” Todd said. “This is just a residential neighborhood that I’m sure a lot of people do frequent.”

The Cuyahoga County Medical Examiner’s Office has custody of the bodies and will identify the girls. Todd said there is no clear indication of possible causes of death for the girls or how long the girls were there.

“It was some time, so it’s not something that was recent,” Todd said. 

There is no suspect, Todd added. Anyone with information can contact the Cleveland police at 216-623-5464.

Advertisement

“Usually in residential areas, you know what’s happening in your neighborhood, something just seems a little bit off,” Todd said. “That’s why we’re asking that anyone who has anything that they believe to be information directly related to or suspicious, that they give us a call.” 



Source link

Continue Reading

Trending