ChainCatcher news, according to Cointelegraph, U.S. District Judge Ann Marie McIff Allen in Utah has denied the appeal request from Kristoffer Krohn, a promoter of Green United, regarding the September 23 ruling that allowed the U.S. Securities and Exchange Commission (SEC) to sue Green United LLC. The judge stated that Krohn failed to provide grounds for the appeal.In the arguments against the dismissal of the lawsuit, Krohn claimed that the SEC failed to prove that the Green Boxes offered by Green United were investment contracts, which the regulatory agency alleged in its complaint. He also argued that the SEC confused elements in the Howey test that defines securities. However, Judge Allen stated that Krohn's arguments were incorrect, accusing him of selectively quoting terms from two different definitions and "failing to provide any legal support to demonstrate that any court has adopted the definition he described."In 2023, the SEC charged that executives of Green United operated a fraudulent cryptocurrency mining scheme that defrauded investors of $18 million through the sale of Green Boxes and Green Boxes investment products from April 2018 to December 2022.

ChainCatcher news, according to Cryptonews, Thai authorities have cracked a cross-border cryptocurrency fraud case, which allegedly defrauded a local woman of over $620,000.According to local reports, the network spans Thailand, Cambodia, and Myanmar, operating a highly organized scam involving fake online investment opportunities, identity theft, and cross-border money laundering. Investigations reveal that the suspects used a fake investment chat group to lure victims, subsequently moving to private messaging applications to exert more control. In this case, the victim Mallika contacted the scammers through a public Facebook group and was ultimately persuaded to invest in a fake high-return cryptocurrency and stock portfolio, transferring a total of 21 million Thai Baht (approximately $621,000).The Thai Immigration Bureau has obtained arrest warrants and apprehended several suspects, and the case is still under further investigation.

ChainCatcher news, according to Bitcoin.com, Indian actress Tamannaah Bhatia has been questioned by the Enforcement Directorate (ED) of India for allegedly promoting the "HPZ Token" platform, which is accused of deceiving investors through a cryptocurrency scheme. Authorities are investigating whether she supported the scam and whether she promoted IPL content related to illegal gambling. It remains unclear whether Tamannaah Bhatia is involved, but the investigation is ongoing.Tamannaah Bhatia had previously been questioned in Maharashtra for similar allegations. Investigators looked into her promotion of the Fairplay betting application, which is under investigation for encouraging the viewing of IPL matches related to illegal gambling.Reports suggest that Tamannaah Bhatia promoted IPL content on Fairplay, raising concerns about her role in supporting questionable activities. Investigators are also reviewing her appearances in HPZ Token events, where she received appearance fees, to determine whether her endorsement helped legitimize the platform, which is now allegedly part of a scam.

According to CNBC, German citizen Horst Jicha has become a fugitive after skipping bail in a $150 million cryptocurrency fraud case in New York. He tampered with his ankle monitor on October 3 and subsequently failed to appear in court. The Brooklyn U.S. Attorney's Office is actively investigating to apprehend him. Of Jicha's $5 million bail, $4 million was personally guaranteed by his partner, children, and three others, while $1 million in cash has been deposited with the federal government, putting their bail amounts at personal risk.The case against Horst Jicha was originally set to go to trial on March 31, facing multiple charges of securities fraud and conspiracy. Prosecutors indicated that the USI Tech platform was essentially a fraudulent multi-level marketing scheme, in which Jicha deceived investors, residing in Brazil and Spain before and after his arrest. He was arrested in Florida at the end of 2023 and was released on bail in January, but violated the conditions of his bail by failing to appear in court, meet with his attorney, or seek medical attention. After his arrest, approximately $150 million worth of Ethereum and Bitcoin was sent to a cryptocurrency deposit address controlled by Horst Jicha.

ChainCatcher news, according to Decrypt, South Korean financial regulators have issued a stern warning, stating that a life sentence will be imposed for cryptocurrency fraud cases that profit over $4 million (approximately 5 billion won). This warning was issued following the enactment of the South Korean "Virtual Asset User Protection Act" in July 2024, which aims to prevent cryptocurrency crimes, partly inspired by the events involving Terra/Luna founder Do Kwon and the collapse of the FTX exchange.In addition, the new law stipulates other penalties, including fines of 3 to 5 times the illegal profits, as well as a maximum of one year of imprisonment.

ChainCatcher news, the Indonesian Criminal Investigation Agency (Bareskrim) has collaborated with Binance and Tokocrypto to capture a major fraud operation, identifying multiple suspects and seizing $200,000 in ill-gotten gains.Bareskrim has launched an investigation into a suspected trading fraud case involving a cryptocurrency trading website. The investigation confirmed that the website was part of a pig butchering scam. During the investigation, several individuals involved in managing accounts that received stolen funds were arrested. Authorities discovered approximately 50 mobile phones and several local bank cards, as well as banking applications, on the suspects' mobile phones and tablets. When asked about the cryptocurrency wallets they controlled, the suspects refused to cooperate.Through forensic analysis, Bareskrim investigators identified wallet addresses that may be controlled by the suspects and found supporting evidence in their communication records, particularly on Telegram. Their chat screenshots revealed several key wallet addresses, further linking the suspects to the fraud.Bareskrim has arrested individuals involved in managing the stolen funds.

According to ChainCatcher, as reported by Decrypt, legendary figure in American television and former host of the "Late Show" David Letterman appeared at the Manhattan federal court to participate in the jury selection for a cryptocurrency fraud case. According to ABC News, Letterman took part in the standard questioning process as a potential juror. During the questioning, Letterman displayed his signature sense of humor, stating that he resides in "Hartford," Connecticut, and then clarified that it was just a joke. He also revealed that he is currently working for Netflix. Although Judge P. Kevin Castel indicated that Letterman had a 50% chance of being selected, the prosecution ultimately exercised its right to exclude a juror without explanation, removing him from consideration.

ChainCatcher news: Former Heartland Tri-State Bank CEO Shan Hanes has been sentenced to 293 months in federal prison for allegedly committing a $47 million cryptocurrency fraud scheme. Court documents show that Hanes executed 11 unauthorized wire transfers between May and July 2023, transferring $47.1 million of the bank's funds into a cryptocurrency wallet, which was related to a pig butchering scam. This scheme ultimately led to the collapse of Heartland Tri-State Bank.

ChainCatcher news, according to CoinDesk, Epoch Times Chief Financial Officer Bill Guan has been charged with involvement in a $67 million cryptocurrency platform fraud scheme, which involved using cryptocurrency to purchase criminal proceeds at a discounted price and funneling them into company accounts, resulting in a significant increase in the annual revenue reported by Epoch Times.Bill Guan was indicted by the U.S. Department of Justice early Tuesday morning. The department alleges that he was involved in a scheme to launder $67 million using cryptocurrency. Bill Guan faces charges of conspiracy to commit money laundering and bank fraud. According to the indictment from the U.S. Department of Justice, money laundering carries a maximum sentence of 20 years in prison, while each count of bank fraud carries a maximum sentence of 30 years in prison.

ChainCatcher news, the Hong Kong police recently stated that they have discovered a surge in the number of counterfeit bills used in cryptocurrency fraud cases. From January to April, authorities seized a total of 3,396 counterfeit notes, valued at approximately $320,000.In three major cryptocurrency-related cases, a total of 1,693 "training notes" and 347 low-quality counterfeit bills were confiscated. These training notes are primarily used to train bank staff and resemble Hong Kong $1,000 banknotes but lack anti-counterfeiting features, marked with the Chinese characters "培训钞".Fraudsters set up fake stores or arrange face-to-face transactions, offering services to exchange cryptocurrency for cash, using these counterfeit bills to deceive victims.

ChainCatcher news, according to a statement from the U.S. Department of Justice on September 19, former Deutsche Bank investment banker Rashawn Russell admitted to participating in the operation of a fraudulent cryptocurrency investment fund called "R3 Crypto Fund," and may face up to 30 years in prison.Between November 2020 and August 2022, Russell exploited his reputation as an investment banker and licensed financial broker to promise guaranteed excessive returns through a series of cryptocurrency investments, defrauding 29 investors out of $1.5 million. The Department of Justice stated that Russell repeatedly lied to investors about their investments and fabricated multiple documents showing false information related to investor returns.

ChainCatcher news, according to the South China Morning Post, a report from the Hong Kong police shows that in 2022, Hong Kong recorded a total of 2,336 cases of cryptocurrency-related fraud, an increase of 67% from 1,397 cases in 2021. The funds involved in these cases amounted to approximately HKD 1.7 billion (about USD 216.6 million), which is an increase of 106% from the previous year. (Source link)