Letitia James
New York State Attorney General Letitia James announced on Friday that she has expanded her lawsuit against Digital Currency Group and other cryptocurrency defendants.
James said the alleged fraud cost investors more than $3 billion.
This amended complaint is the result of more investors coming forward following Attorney General James’ October 2023 suit against Gemini Trust Company (Gemini), Genesis and DCG for misleading representations to investors about an investment program called Gemini Earn and causing over $1 billion in losses. Gemini Trust is an exchange run by twin brothers Cameron and Tyler Winklevoss.
The OAG’s continued investigation revealed that these additional investors were similarly defrauded and provided with false assurances that their funds were safe when in fact they were not, leading to an additional $2 billion in assets that were lost.
In total, OAG found that these companies defrauded more than 230,000 investors out of more than $3 billion. James is seeking restitution for those investors.
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