Home Blockchain News Bitcoin in Crosshairs as SEC & DOJ Drop Hammer on Crypto Firm Longfin

Bitcoin in Crosshairs as SEC & DOJ Drop Hammer on Crypto Firm Longfin

by Rss Feed from web
128 views
cryptocurrency news feed

By CCN: The “crypto” startup Longfin Corp. got spanked by both the SEC and the DOJ for fraud amid a broader regulatory crackdown on bitcoin-related financial crimes. Specifically, Longfin’s CEO, Venkata Meenavalli, is accused of inflating the company’s revenue by $66 million in order to fraudulently secure a listing on the Nasdaq in 2017. Prosecutors Say Longfin Cooked the Books The Securities and Exchange Commission also accused Longfin executives of insider trading, saying they illegally sold $33 million of stock in unregistered transactions. While the screaming headlines suggest that the Longfin fraud is tied to bitcoin, in reality, the company

The post Bitcoin in Crosshairs as SEC & DOJ Drop Hammer on Crypto Firm Longfin appeared first on CCN

Click To Read Full Article

* First published on ccn.com

Related Posts

Leave a Comment