Latest Legal News: Finextra Research

Silvergate's FTX dealings face fraud investigation

US Justice Department fraud prosecutors are investigating crypto-focussed bank Silvergate's dealings with FTX and Alameda Research, according to Bloomberg.

03 February 2023

News/crypto

Judge dismisses class-action suit against Coinbase

Shares in Coinbase soared by more than 20% on Thursday after a judge dismissed a class-action lawsuit against the cryptocurrency exchange.

03 February 2023

News/payments

Commerzbank sues EY over €200 million Wirecard loss

Commerzbank is suing EY for the recovery of €200 million in losses from the collapse of disgraced German payments firm Wirecard.

26 January 2023

News/crypto

Genesis files for bankruptcy; Winklevoss threatens to sue DCG

Crypto broker Genesis has filed for Chapter 11 bankruptcy protection, listing debts of around $3.5 billion. On the same day, Gemini co-founder Cameron Winklevoss has threatened to sue Genesis parent company Digital Currency Group and its CEO Barry Silbert.

20 January 2023

News/crypto

US arrests crypto exchange founder

US authorities have charged the Russian founder of Hong Kong-based crypto exchange Bitzlato, which it says was used to launder hundreds of millions of dollars in criminal proceeds from the darknet.

18 January 2023

News/retail

JPMorgan Chase sues founder of startup it acquired

JPMorgan Chase is suing the founder of a college financial planning platform it acquired for $175 million, accusing her of creating a list of millions of fake users to get the deal completed.

12 January 2023

News/security

JPMorgan must face Ray-Ban lawsuit over cyber theft

A New York judge has ruled that JPMorgan Chase must face a lawsuit from the French manufacturer of Ray-Ban glasses, which argues that the bank failed to stop suspicious transactions after cybercriminals looted $272 million from its account.

06 January 2023

News/people

New York sues Celsius founder Mashinsky

New York's attorney general has filed a civil lawsuit against the founder of bankrupt Celsius Network, Alex Mashinsky, alleging that he defrauded hundreds of thousands of investors out of billions of dollars worth of cryptocurrency.

06 January 2023

News/people

FTX's Bankman-Fried pleads not guilty

Sam Bankman-Fried has pleaded not guilty to eight criminal charges related to the collapse of FTX, the cryptocurrency exchange he founded.

03 January 2023

News/payments

Wirecard charge sheet will take five hours to read out as CEO Braun gets his day in court

The charge sheet against former Wirecard boss Marcus Braun and two other executives runs to 474 pages and will take five hours to read out, in a Munich court case that opens today and is expected to last for a more than a year.

08 December 2022

News/regulation

AmEx faces Australian lawsuit over card distribution laws

Australia's securities regulator is taking American Express to court, accusing the firm of issuing credit cards without making sure that customers understood them.

07 December 2022

News/payments

Court dismisses Mastercard appeal against £14 billion class action lawsuit

A £14 billion class action lawsuit against Mastercard interchange fees has moved a step closer to trial following a failed last ditch attempt by the card scheme to derail the claim.

29 November 2022

News/crypto

Estonian men arrested over $575m crypto fraud

Police have arrested two men in Estonia in connection with a $575 million cryptocurrency fraud and money laundering scheme.

23 November 2022

News/crypto

New FTX CEO slams 'complete failure of corporate controls'

John Ray, the man who took over at Enron after its collapse and is now in charge of FTX has blasted his predecessor at the failed crypto exchange, Sam Bankman-Fried, declaring in court filings that he has never "seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information".

17 November 2022

News/retail

London crook jailed for card fraud

A London man has been sentenced to two and a half years in prison for a £280,000 fraud scam.

11 November 2022

News/crypto

US authorities seize 50,000 bitcoin related to Silk Road

US authorities say they have seized more than 50,000 bitcoins - now valued at around $1 billion - related to the Silk Road dark web marketplace.

07 November 2022

News/crypto

Visa files metaverse and NFT trademark applications

Visa has filed two trademark applications related to the metaverse, non-fungible tokens and digital currency wallets.

01 November 2022

News/crime

EBA publishes fraud taxonomy

The Euro Banking Association (EBA) has made its payment fraud taxonomy available to the public in a bid to curb the rising threats to the European payments system.

28 October 2022

News/regulation

Bunq wins AML case against Dutch Central Bank

Dutch challenger bank Bunq has hailed a "landmark" verdict in the Dutch courts over the use of artificial intelligence (AI) for anti-money laundering processes.

18 October 2022

News/payments

Mastercard and Visa face UK corporate card interchange class action suit

Visa and Mastercard are facing a class action lawsuit in the UK seeking compensation for businesses charged Multilateral Interchange Fees (MIFs) for accepting payments using corporate credit cards.

03 October 2022