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Tag Archives: Fraud

Trader Jailed and Fined Over $1 Million for Bitcoin and Litecoin Fraud …

The U.S. Commodity Futures Trading Commission (CFTC) issued a press release on Friday, November 9, 2018, stating that it had fined Arizona resident Joseph Kim for perpetrating a fraudulent cryptocurrency trading scheme against his former employer and other investors. The same day, a District Court in the Northern District of Illinois sentenced Kim to 15 months on wire fraud charges. ...

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Popular Thai Actor and Siblings Plead Not Guilty in $24 Million Bitcoin Fraud

Twitter Facebook LinkedIn Three Thai siblings who are being prosecuted for defrauding a 21-year-old Finnish investor of bitcoin worth 797 million baht (approximately US$24 million) in the Criminal Court of Bangkok have pleaded “not guilty” for the charges. At the hearing, prosecutors accused the siblings, Prinya, Supitcha and popular Thai actor Jiratpisit Jaravijit of convincing Finnish investor Aamai Otava Saarimaa ...

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Tech Firm Run by Doctors Turns to the Blockchain for Fighting Healthcare Fraud

Twitter Facebook LinkedIn This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the ...

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Texas Hits Cryptocurrency Mining Firms with Cease and Desist for Fraud

Twitter Facebook LinkedIn Texas executed regulatory action recently against two cryptocurrency mining companies. The Securities Commissioner for Texas sent EXY Crypto (also known as Execrypto) and AWS Mining PTY LTD. cease and desist letters based on fraudulent activities. EXY Crypto Texas order number ENF-18-CDO-1771 against EXY Crypto specifically names Morgan Nolan, Rafael Logan, and Melissa Spring as involved in the ordeal. EXY ...

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Nasdaq Pledges To Help The Crypto Industry Stamp Out Fraud

The cryptocurrency industry has come a long way, with Bitcoin celebrating its ten year anniversary yesterday. However, despite the great strides made, one challenge has continued to plague the industry: fraud. Nasdaq believes that it might have the answer and is willing to help the crypto industry weed out fraud from the industry. In a paper released today, the second-largest ...

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Tech Firm Run by Doctors Turns to the Blockchain for Fighting Healthcare Fraud

When a psychiatrist makes a schizophrenia diagnosis, it can alter a patient’s life forever. Such a diagnosis is often accompanied by prescription drugs that alter the way the patient thinks. But imagine if that doctor were an impostor. That’s exactly what happened in 2015–2016, when Scott Redman stole the identity of a physician and treated more than 100 patients in ...

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Belgium Regulator Blacklists 21 Crypto Firms Suspecting Fraud

The Financial Services and Markets Authority (FSMA) has added 21 new websites of suspected cryptocurrency scams to its blacklist. Belgium’s financial regulator published the list on its official website, bringing their tally of suspected crypto scams in the country to 99. The agency found that despite their prior warnings concerning the risks associated with crypto investments, Belgium is witnessing a ...

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Thailand Police Arrest Prime Suspect of $24 Million Bitcoin Fraud Scheme

The alleged mastermind of the bitcoin fraud scheme which saw a Finnish investor lose 5,564 bitcoins in Thailand has been arrested. Prinya Jaravijit, who is the principal suspect in swindling Finnish national Aarni Otava Saarimma out of bitcoin worth 797 million baht (approximately US$24 million) was arrested at Bangkok’s Suvarnabhumi Airport on October 11, according to the Bangkok Post. The ...

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$6.4 Million of Thai Actor’s Family Assets Seized in $24 Million Bitcoin Fraud Case

Ten months after a Finnish national filed a complaint after losing 5,564 bitcoins to fraudsters in Thailand, the family of the Thai television actor Jiratpisit ‘Boom’ Jaravijit is now the target of the country’s anti-money laundering agency in relation to the scam. According to The Nation, Thailand’s Anti-Money Laundering Office (AMLO) has seized assets worth 210 million baht (approximately US$6.4 ...

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CFTC Cracks Down Harder on Cryptocurrency Fraud Under Trump

The Commodity Futures Trading Commission (CFTC) has bolstered its police actions in the last fiscal year, driven largely by cryptocurrency cases, according to The Wall Street Journal. Under President Trump, the federal derivatives market regulator levied about $900 million in civil penalties in 2018 alone, exceeding the annual amount in five of the eight years of the Obama administration. The ...

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