New York Attorney General Letitia James on Friday expanded her case against Digital Currency Group and other crypto defendants, tripling the size of the fraud scheme to more than $3 billion.
In October, James sued Digital Currency, its Genesis Global Capital unit, and Gemini Capital, an exchange run by twin brothers Cameron and Tyler Winklevoss.
She alleged that she misled investors about Gemini Earn, a program that allows customers to lend crypto assets to Genesis in exchange for a promised high rate of return, causing losses of more than $1 billion.
James said in a statement that more investors have since come forward with complaints, and it has become clear that other investors who sent money directly to Genesis were also ensnared in this complex scam.
James is seeking more than $3 billion in damages from more than 230,000 investors who are believed to have been defrauded.
