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Tech Ad Firms Could Gain If U.S. Sues Alphabet Again

The Justice Department is reportedly considering a second suit again Google parent Alphabet over its advertising technology. Read More...

Reuters

U.S. SEC charges BitConnect founder with $2 billion cryptocurrency fraud

NEW YORK (Reuters) -The top U.S. securities regulator on Wednesday sued the founder of the now-defunct cryptocurrency exchange platform BitConnect over his alleged role in fraudulently raising about $2 billion from thousands of retail investors. Expanding a civil case announced in May, the U.S. Securities and Exchange Commission charged BitConnect founder Satish Kumbhani, an Indian citizen, with lying about BitConnect’s ability to generate profits, and violating registration laws meant to protect investors. In a lawsuit in Manhattan federal court, the SEC also charged promoter Glenn Arcaro and his firm Future Money Ltd with fraudulently receiving more than $24 million in “referral commissions” and other sums as BitConnect’s top U.S. promoter.

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