NEW YORK – New York Attorney General Letitia James today filed a sweeping lawsuit against cryptocurrency companies Gemini Trust Company (Gemini), Genesis Global Capital, LLC and its affiliates (Genesis), and Digital Currency Group, Inc. (DCG) for defrauding more than 230,000 investors, including at least 29,000 New Yorkers, of more than $1 billion. An investigation by the Office of the Attorney General (OAG) found that Gemini lied to investors about an investment program it ran with Genesis called Gemini EarnN.
A series of actions on “junk fees” came together last week at the federal level and with a new state law in California.
CUNA, NAFCU, and the Virgnia Credit Union League filed a joint amicus brief in support of 1st Advantage Credit Union Tuesday, in the lawsuit Studco Building Systems, LLC, v. 1st Advantage Federal Credit Union. The lawsuit involves a credit union member who transmitted fraudulent emails to the plaintiff, and the plaintiff then transmitted several high-value ACH payments to the credit union, which were eventually withdrawn by the member.
TRENTON – Attorney General Matthew J. Platkin and the Division of Consumer Affairs (“Division”) today announced a $4.6 million settlement with a Middlesex County for-profit school and its founder and president that resolves allegations that the school used false and misleading job advertisements to funnel students into its high-cost information technology (“IT”) programs and falsely claimed that Income Share Agreements (“ISAs”) requiring students to pledge a portion of their future income in exchange for upfront money to pay for the programs were not loans and would not create debt.
The U.S. District Court for the Northern District of Oklahoma has issued a preliminary injunction enjoining three individuals and two companies from continuing their fraudulent debt collection scheme. The order was issued after the department filed a civil complaint against Assured Collections LLC, Assured Financial LLC, Christopher Parks, Christopher Noah Parks and Stephen Miller.
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