{"id":11600,"date":"2024-02-10T05:18:51","date_gmt":"2024-02-10T05:18:51","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=11600"},"modified":"2024-02-10T13:18:32","modified_gmt":"2024-02-10T13:18:32","slug":"new-york-attorney-expands-case-against-dcg-and-gemini","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/new-york-attorney-expands-case-against-dcg-and-gemini\/","title":{"rendered":"New York Attorney Expands Case Against DCG and Gemini"},"content":{"rendered":"<div>New York Attorney General Letitia James has decided to expand the fraud case against Digital Currency Group (DCG) and <a href=\"https:\/\/coinengineer.net\/blog\/gemini-exchange-manager-is-leaving-his-position\/\" target=\"_blank\" rel=\"noopener\">Gemini<\/a> by 3 times.<\/div>\n<div><\/div>\n<div>Although Attorney General James stated that there was a $1 billion investor victimization within the scope of the Gemini Earn program in the first accusation, she announced that as a result of the investigations, they determined that this amount was more extensive, such as $ 3 billion.<\/div>\n<h2><span style=\"font-size: 75%;\">Letitia James Expands Case Aganist DCG and Gemini<\/span><\/h2>\n<div>While the initial lawsuit focused mainly on the losses of retail investors who participated in the Gemini Earn investment program, as more complaints began to come in, it became clear that the complex nature of the fraud also affected other investors who put their money directly into DCG&#8217;s subsidiary Genesis.<\/div>\n<div><\/div>\n<div>Attorney General James emphasized that while <a href=\"https:\/\/coinengineer.net\/blog\/dcg-paid-its-700-million-dollar-debt-to-genesis\/\">DCG<\/a> provided investors with false information about financial returns, the scale of the fraud was much larger than it appeared. After months of misleading promises, the truth came to light and it was revealed that <a href=\"https:\/\/coinengineer.net\/blog\/genesis-agreed-with-dcg-for-620-million-dollar-lawsuit\/\">DCG<\/a> had defrauded investors of billions of dollars.<\/div>\n<div><\/div>\n<div>Affected by the mass bankruptcies in the cryptocurrency market last year, Genesis under DCG stopped withdrawals for its customers and then filed for bankruptcy.<\/div>\n<div><\/div>\n<div>\n<p>However, a DCG spokesperson denied these allegations, stating that the firm and CEO Barry Silbert would win the case. DCG announced last summer that it had reached a 79% to 90% repayment agreement with creditors.<\/p>\n<hr \/>\n<div class=\"markdown markdown-main-panel ui-v2-enabled\" dir=\"ltr\">\n<p><em>You can freely share your thoughts and comments about the topic in the comment section. Additionally, please don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram<\/strong>,<\/a>\u00a0<a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a> channels for the latest news and updates instantly.<\/em><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>New York Attorney General Letitia James has decided to expand the fraud case against Digital Currency Group (DCG) and Gemini by 3 times. Although Attorney General James stated that there was a $1 billion investor victimization within the scope of the Gemini Earn program in the first accusation, she announced that as a result of<\/p>\n","protected":false},"author":6,"featured_media":4728,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[4270,1103,2059],"class_list":["post-11600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-case","tag-dcg","tag-gemini"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>New York Attorney Expands Case Against DCG and Gemini - Coin Engineer<\/title>\n<meta name=\"description\" content=\"New York Attorney General Letitia James has decided to expand the fraud case against Digital Currency Group (DCG) and Gemini by 3 times.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/new-york-attorney-expands-case-against-dcg-and-gemini\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New York Attorney Expands Case Against DCG and Gemini - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"New York Attorney General Letitia James has decided to expand the fraud case against Digital Currency Group (DCG) and Gemini by 3 times.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/new-york-attorney-expands-case-against-dcg-and-gemini\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-10T05:18:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-10T13:18:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/10\/tempory-16.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/new-york-attorney-expands-case-against-dcg-and-gemini\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/new-york-attorney-expands-case-against-dcg-and-gemini\/\",\"name\":\"New York Attorney Expands Case Against DCG and Gemini - 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