Tag: CEO

Former Celsius CEO Mashinsky seeks dismissal of FTC case

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Alex Mashinsky, the founder and former CEO of now bankrupt crypto lender Celsius, filed a new motion in court seeking the dismissal of the Federal Trade Commission (FTC) case against him “in its entirety.” The legal counsel for the former Celsius boss argued that the allegations against their client do not support the claim that he knowingly made a misstatement to “fraudulently obtain customer information from a financial institution.” According to the lawyers, the accusations do not meet the standards for a claim under the Gramm-Leach-Bliley Act (GLBA). This 1999 law…

UK Information Commissioner and NCSC CEO sign Memorandum of Understanding

The UK Information Commissioner, John Edwards, and the Chief Executive of the National Cyber Security Centre (NCSC), Lindy Cameron, have today signed a joint Memorandum of Understanding (MoU) that sets out how both organisations will cooperate. The MoU recognises that whilst both organisations have distinct responsibilities, there are opportunities to align work on some shared issues and deconflict on others. These include cooperation on the development of cyber security standards and guidance as well as influencing improvements in the cyber security of organisations regulated by the Information Commissioner’s Office (ICO).…

Crypto CEO Bags Record Breaking Prison Sentence For $2 Billion Theft

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Former CEO Faruk Fatih Özer of the bankrupt Turkish crypto exchange Thodex has been given a record-breaking prison sentence for stealing $2 billion in customer funds. Crypto CEO Sentenced To 11,196 Years Prison Sentence On Thursday, September 7, 2023, the former CEO of Thodex, which was one of the biggest cryptocurrency exchanges in Turkey, was reportedly sentenced to 11,196 years, 10 months, and 15 days in prison for several criminal charges including fraud, leading a criminal organization, and money laundering by the Anatolian 9th Heavy Penal Court. The former CEO…

Ex-Algorand CEO Kokinos Named to Run Successor of Crypto Lender Celsius

“Steve has been a serial entrepreneur and investor for over 25 years, founding and operating companies ranging from internet infrastructure, cloud software, communications, and crypto,” according to a brief resumé included in the court documents, which described him as the proposed CEO of the Delaware corporation, as yet unnamed but referred to in the filings as NewCo. Source

Everything you need to know about LFi and CEO Luiz Góes

If you’re following wealth creation trends, you may have heard of LFi and its CEO, Luiz Góes. This article delves into the fintech company and its chief. LFi company overview   LFi is a blockchain-based decentralized network that seeks to revolutionize economic innovation. Its strategy anchors on a decentralized autonomous organization (DAO), with community members having control and ownership. They can make governance decisions through a democratic voting process. The LFi ecosystem has its utility token, LFi. Users can also convert LFi into vLFi via vesting. In this way, they receive…

FBI questions Winklevoss twins on DCG’s CEO misconduct

US federal officials are scrutinizing the internal financial transactions of DCG and its subsidiary, Genesis Global Capital. During the current analysis of the Digital Currency Group and its branch, Genesis Global Capital, agents from the Federal Bureau of Investigation, staff from the Securities and Exchange Commission, and New York City prosecutors recently engaged in discussions with Cameron Winklevoss to delve into the fraud accusations he has raised against Barry Silbert, as cited by Bloomberg News. Winklevoss accuses DCG and Silbert of disseminating misleading details regarding the financial health of Genesis,…

Court Hands 11,196-Year Prison Sentence to CEO of Exchange That Collapsed With $2,000,000,000+ in Crypto: Report

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The chief executive of a collapsed crypto exchange has reportedly been handed a staggering prison sentence of over 11,000 years. According to a new report by Euronews, Faruk Özer, the CEO of Istanbul-based crypto exchange Thodex, has been given 11,196 years in jail for stealing $2 billion worth of crypto assets from customers. Thodex suddenly went offline in April 2021, leaving 400,000 customers without access to their funds, while Özer fled Turkey. He was caught in Albania in 2022 after Interpol issued a red notice for him. Interpol’s red notice…

Thodex Exchange CEO, Others Get 11,196 Years Jail Sentence

The court also slammed them with a judicial fine of 135 million liras ( approximately $5 million) as the case came to a close. The long arm of the law may have finally caught up with Faruk Fatih Özer, the founder of the Turkish crypto exchange Thodex which collapsed two years ago. According to a local media report, Faruk, alongside his sister Serap Özer and his brother Güven Özer have all been sentenced to 11,196 years, 10 months, and 15 days in prison. The court also slammed them with a…

CEO of Collapsed Turkish Crypto Exchange Gets 11,196 Years in Prison

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A court in Turkey has sentenced Faruk Fatih Özer, the founder of the collapsed Turkish crypto exchange Thodex, his sister Serap Özer, and his brother Güven Özer to 11,196 years, ten months and 15 days in prison, according to Coindesk. Further, they are also facing a judicial penalty of 135 million liras (about $5 million). Discover StealthEX.io – the future of cryptocurrency. Swap instantly across 1000+ coins, no sign-up, secure, and private. Dive into the new age of crypto! It was part of an extensive trial of 21 defendants facing…

Turkish crypto exchange Thodex CEO gets 11,000-year sentence for $2B scam: Report

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The former CEO of Turkish crypto exchange Thodex, Faruk Fatih Özer, was sentenced to 11,196 years in prison by a Turkish court on charges of “establishing, managing and being a member of an organization”, “qualified fraud”, “laundering of property values”. The Anatolian 9th High Criminal Court sentenced Ozer along with his two siblings to the same jail sentence of 11 thousand 196 years, 10 months and 15 days in prison along with a $5 million fine, reported Turkish state-run news agency, Anadolu Agency. The Turkish crypto exchange was one of…