NY-AG v. Gemini

Gemini allegedly misled thousands of investors on the risks associated with Gemini Earn. According to NY-AG, Gemini marketed its Earn program as a way for investors to grow their money, but actually lied and locked investors out of their accounts. The lawsuit alleged that Gemini knew Genesis’ loans were under-secured and at one point highly concentrated with one entity, Sam Bankman-Fried’s Alameda, but did not reveal this information to investors.

Summary generated from official New York Attorney General press release