NY Seeks $3 Billion in Expanded Digital Currency Group Lawsuit

02/10/2024 10:18
NY Seeks $3 Billion in Expanded Digital Currency Group Lawsuit

The alleged fraud involving Gemini Trust Co. and Barry Silbert’s Digital Currency Group was three times bigger than initially thought, the New York attorney general said in a revised lawsuit that now seeks $3 billion in restitution for more than 230,000 investors.

The alleged fraud involving Gemini Trust Co. and Barry Silbert’s Digital Currency Group was three times bigger than initially thought, the New York attorney general said in a revised lawsuit that now seeks $3 billion in restitution for more than 230,000 investors.

The civil complaint was initially filed in October seeking $1.1 billion. But it’s been amended after additional DCG investors came forward to claim they’d been misled about the safety of their investments, New York Attorney General Letitia James said Friday in a statement. The amended suit doesn’t include new allegations against Gemini.

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