NY-AG v. Gemini Trust Company, Genesis Global Capital, LLC, and Digital Currency Group, Inc.

Gemini Trust Company (Gemini), Genesis Global Capital, LLC and its affiliates (Genesis), and Digital Currency Group, Inc. (DCG) allegedly defrauded more than 230,000 investors, including at least 29,000 New Yorkers, of more than $1 billion. Gemini allegedly lied to investors about an investment program it ran with Genesis called Gemini Earn. Genesis, its former CEO Soichiro Moro, its parent company, DCG, and DCG’s CEO Barry Silbert allegedly defrauded investors and the public by trying to conceal more than $1.1 billion in losses, which were borne by investors, according to NY-AG.

Summary generated from official New York Attorney General press release