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NYAG Files Lawsuit Alleging $1B Fraud By Genesis, Gemini

New York Attorney General Letitia James is suing a cohort of cryptocurrency companies after alleging they defrauded more than 230,000 investors. So reports Gizmodo.

James filed a lawsuit against Gemini Trust, Digital Currency Group and Genesis Global Capital for their part in the failed “Gemini Earn” program that was supposed to offer high yields with little risk. According to the allegations, the program ripped off investors for more than $1 billion, partially due to entanglements with Sam Bankman-Fried’s Alameda Research.

Read the full article from Gizmodo.

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