Posted 2/21/2024, 10:48:00 PM
DCG Objects to Genesis Settlement with NY Attorney General, Calls it Attempt to Skirt Bankruptcy Law
- DCG objects to subsidiary Genesis' settlement with NY Attorney General's office over fraud charges
- Genesis struck a deal to resolve charges it defrauded investors, but DCG says it violates bankruptcy law
- DCG calls the deal an attempt to circumvent bankruptcy law and redistribute funds improperly
- Former NY prosecutor backs DCG's objection, questions if settlement properly negotiated
- Genesis previously settled with NY DFS over same issues, gave up BitLicense; DFS expanded case against DCG & Gemini