New York Attorney General Letitia James has expanded the state's lawsuit against DCG, tripling the estimated size of fraud.
New York Attorney General Letitia James has expanded the state's lawsuit against Digital Currency Group and tripled the estimated size of alleged fraud to more than $3 billion.
The NYAG sued Gemini, Genesis and its parent company DCG in October over the Gemini crypto lending program. At the time, James said the three entities defrauded more than 29,000 New Yorkers of more than $1 billion. James also said DCG and Genesis "disguised $1.1 billion in losses through a months-long campaign of misstatements, omissions, and concealment."
A DCG spokesperson criticized the news and said the firm and its CEO Barry Silbert will be vindicated.
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