Saturday, April 20, 2024 10:07 a.m.
Image: Mark Agner/shutterstock.com
crypto criminal Avi Eisenberg is sentenced to prison after being found guilty of various counts of fraud and market manipulation. It is operated by the decentralized exchange Mango Markets.
Eisenberg is scheduled to be sentenced on July 29, and the Justice Department says he faces “up to 10 years in prison for the product fraud and product manipulation charges, and up to 20 years in prison for the wire fraud charge.” Said. … This plan affected both the investors trading and the exchange itself, and the exchange was forced to cease operations as Eisenberg’s attack bankrupted the exchange.
While the crypto hypemen have moved on to AI, the real scammers are in the “unraveling” stage.The U.S. Department of Justice writes: This is the first conviction of this kind.
“Avraham Eisenberg ran a manipulative trading scheme on a virtual currency exchange, defrauding the exchange and its investors of $110 million,” said Nicole M. Argentieri, Chief Deputy of the Department of Justice Criminal Division. said the Assistant Attorney General. “Manipulative trading puts our nation’s financial markets and investors at risk. This indictment is the first case involving the manipulation of virtual currencies through open market trading, and what mechanisms are being used. It also demonstrates the Division of Criminal Investigation’s commitment to protecting America’s financial markets and holding wrongdoers accountable.” ”
“Abraham Eisenberg was recently found guilty by a unanimous jury of the first crypto public market manipulation case in history,” said Damian Williams, U.S. Attorney for the Southern District of New York. “This landmark prosecution is emblematic of our firm’s ability to employ innovative techniques and cutting-edge law enforcement tools to continue to protect all financial markets.” continues our expertise in prosecuting financial fraud, one of our core priorities, ensuring that would-be financial criminals are protected before they commit illegal acts under our watch. You should think about it.”
