A top special agent from the Internal Revenue Service has told a conference that NFTs and crypto are the “future” but highlighted that fraud and manipulation is still rampant in the space. Ryan Korner from the IRS Criminal Investigation’s Los Angeles field office made the comments virtual event held on Tuesday by the USC Gould School of Law, Korner. Bloomberg reports Korner … [Read more...] about Crypto’s the future but there are ‘mountains of fraud’
Fraud
ConsenSys AG Sues Former Investment Head, Alleging Resume Fraud
In the suit, ConsenSys said that it allowed Gupta to resign instead of firing her and "offered to allow Gupta to keep the compensation paid and accrued during her short tenure," but that Gupta had rejected the offer – instead demanding that ConsenSys "pay her millions of dollars" to buy out a "purported equity interest" in the firm. Source link … [Read more...] about ConsenSys AG Sues Former Investment Head, Alleging Resume Fraud
SEC Charges Founder of Crypto Startup Crowd Machine With Fraud
“As alleged, Sproule and Crowd Machine misled investors about how they were using ICO proceeds, spending funds on an entirely unrelated scheme,” Kristina Littman, Chief of the SEC Enforcement Division’s Cyber Unit said in the statement. “We will continue to hold accountable issuers of digital asset securities who fail to provide fulsome and truthful disclosure to the public,” … [Read more...] about SEC Charges Founder of Crypto Startup Crowd Machine With Fraud
What Crypto Can Learn From Elizabeth Holmes’ Fraud Conviction
After a yearslong saga of accusations, investigations and angry denial, erstwhile business media darling Elizabeth Holmes has reached the final stage of investor grief: conviction. A jury late Monday found that she defrauded investors in Theranos, the health-testing startup she founded and led. Optimists may think of the verdict as a broad sea change in the way the U.S. public … [Read more...] about What Crypto Can Learn From Elizabeth Holmes’ Fraud Conviction
DeFi Startup Earnity Accused of IP Fraud in Cred Bankruptcy
In a motion to compel filed last week with the U.S. Bankruptcy Court for the District of Delaware, the trust acting in the interest of Cred lenders said that former Cred executives “secretly conspired” to form Earnity. The new DeFi company, under its beneficial owner Dominic Carosa, then purchased Cred’s electronics, computers and other assets from the trust without disclosing … [Read more...] about DeFi Startup Earnity Accused of IP Fraud in Cred Bankruptcy