Forensic Update

Reflections on information management within the legal and regulatory arena

Archive for October, 2021

Today’s #GoodGuysPrevail Update…

Posted by Johnny Lee on October 25, 2021

As a devotee of #cryptocurrency and its enabling technology (#blockchain), I’m frustrated by the bad actors in this space that give the impression that this technology is unsafe and/or unstable. Accordingly, I welcome news like today’s, wherein two #fraudsters were convicted of defrauding around 13,000 individual investors in a rather traditional fraud scheme — albeit in a cryptocurrency arena.

Kudos to the U.S. Department of Justice and the investigative team at the Internal Revenue Service for securing these convictions, each of which follows closely on the heels of a civil settlement with the U.S. Securities and Exchange Commission. The SEC’s civil settlement secured over $8M USD in penalties and fines, and both men now face up to five years in federal prison from their guilty pleas in the criminal proceeding.

#digitalcurrency #assettracing #digitalforensics #investigations #cryptoassets #cryptonews #forensics #forensicinvestigation

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