New York AG sues Gemini and Genesis for alleged $1 billion fraud
The New York Attorney General Letitia James filed the lawsuit against Gemini, Genesis and DCG on Thursday. It’s alleged the crypto firms lied to investors and concealed losses of over $1 billion. New York Attorney General Letitia James has sued Gemini, Genesis Global Capital and Digital Currency Group over allegations that the crypto companies de fraud ed over 230,000 investors, 29,000 of them from New York. Crypto companies lied to investors In the lawsuit the AG filed on Thursday, the companies perpetrated the more than $1.1 billion fraud scheme by concealing losses and repeatedly lying to investors. Gemini Earn customers were greatly impacted when Genesis paused withdrawals in December last year. I'm suing cryptocurrency companies @Gemini, @GenesisTrading, and @DCGco for de fraud ing 230,000 investors out of more than $1 billion . This is yet another example of the harms of an unregulated crypto industry.https://t.co/ysLVm8nujr ...