misleading investors
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Former Deutsche Bank Investment Banker Accused of Encryption Fraud and Ponzi Scheme
On April 12, it was reported that a former investment banker of Deutsche Bank was accused by the US prosecutor of participating in encryption fraud, falsely promising investors hig
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Sanjian Capital’s Co-founder Denies Pending Litigation but Faces SEC and CFTC Investigation
According to reports, Kyle Davies, the co-founder of Sanjian Capital, a closed hedge fund, said that there was no pending litigation or regulatory action against him. Last July, Sanjian Capital filed for bankruptcy. In October this year, the United States Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) launched an investigation on Sanjian Capital because it misled investors in the balance sheet. In December last year, it was reported that the liabilities of Sanjian Capital exceeded US $3 billion, while the assets were only US $1 billion. Davies said that people’s anger stems from the market decline. As far as we are concerned, there are no regulatory actions and lawsuits against us anywhere. According to the previous news, Su Zhu and Kyle Davies, the founders of Sanjian Capital, recently launched Open Exchange (OPNX), a platform that allows users to trade bankruptcy claims and use claims as collateral to trade encrypted derivatives. （CoinDesk） Kyle Davies, co-founder of…
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DeFi project Stablegains sued in California court for alleged non-compliance with securities law
On February 20, YC\’s DeFi project Stablegains was sued in the California court for allegedly misleading investors and failing to comply with the securities law…
