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New York attorney general sues crypto firms for alleged investor fraud

New York attorney general Letitia James is suing three crypto firms, Genesis Global and parent company Digital Currency Group, for allegedly defrauding investors of $1 billion.

The New York New York Attorney General has launched legal action against the cryptocurrency firms Genesis Global, its parent company Digital Currency Group or DCG, and Gemini - accusing them of "defrauding" investors of more than $1 billion dollars. Experts say the development illustrates the challenges the crypto industry is facing. Gemini Trust has denied the claims against it and responses have been requested of the other firms. Our North America Business Correspondent Michelle Fleury brings us the latest on the story.

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(Picture: Attorney General Letitia James leaves the courtroom for a lunch break during the civil fraud trial of Former President Donald Trump at New York State Supreme Court on October 17, 2023 in New York City. Credit: Michael M. Santiago/Getty Images)

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27 minutes

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  • Thu 19 Oct 2023 14:32GMT