SPAC CFO Sentenced to Prison for Embezzling $5M

Cooper Morgenthau, former CFO of African Gold Acquisition Corporation, was sentenced to three years in prison for embezzling $5 million from three different SPACs. Morgenthau used the embezzled funds to trade cryptocurrencies and meme stocks, losing almost all of the money. He then provided falsified documents to the company’s accountants and raised $4.7 million from private investors based on fraudulent claims. Morgenthau has been ordered to forfeit $5.1 million and pay restitution of the same amount. (Read More)

View Details

Ex-CFO that stole $5M to trade crypto and ‘meme stocks' gets 3 years prison

Cooper Morgenthau embezzled $5 million from three different companies and lost almost all of it trading cryptocurrencies and "meme stocks."

View Details

Ex-CFO who stole $5M to trade crypto and ‘meme stocks’ gets 3 years in prison

Cooper Morgenthau embezzled $5 million from three different companies and lost almost all of it trading cryptocurrencies and “meme stocks.“

View Details

Bithumb owner arrested in South Korea over alleged embezzlement

The net is closing in on Bithumb executives as the suspected real owner of the exchange is arrested.

View Details

Haru Invest Executives Arrested in $826 Million Crypto Embezzlement Case

South Korean prosecutors have detained three Haru Invest executives for allegedly embezzling $826 million worth of cryptocurrencies from 16,000 users, highlighting regulatory scrutiny over crypto lending practices. (Read More)

View Details

Do Kwon’s Terraform Sent $7 Million to Law Firm Before Collapse, Report Unveils

Prosecutors investigating failed blockchain firm Terraform Labs have found out that its Singapore office sent millions of U.S. dollars to lawyers just before the crash of its cryptocurrencies. According to Korean media, the transfers suggest that co-founder Do Kwon was aware of the imminent collapse. Terraform Labs Transferred Large Amounts of Money to South Korean [...]

The post Do Kwon’s Terraform Sent $7 Million to Law Firm Before Collapse, Report Unveils appeared first on Crypto Breaking News.

View Details

Inflation and Anguish: Outraged Lebanese Depositors Continue to Riot Against Financial Institutions

Amid Lebanon’s financial crisis, significant demonstrations have erupted in Beirut targeting financial institutions. Outraged Lebanese depositors, witnessing their savings vanish, have resorted to smashing bank windows, setting fires, and engaging in riots. Simultaneously, leaders of Lebanon’s central bank face grave allegations of fraud, embezzlement, and political corruption. Lebanese Citizens Left Penniless as Financial Institutions Crumble [...]

The post Inflation and Anguish: Outraged Lebanese Depositors Continue to Riot Against Financial Institutions appeared first on Crypto Breaking News.

View Details

Mango Labs sues DAO members for alleged embezzlement scheme

The drama around Mango Labs just never seems to stop. Its problems are with its own members, too.

View Details