Investors Settle $159M 'Cryptocurrency Con' Dispute

Law360, London (June 29, 2020, 4:24 PM BST) -- A group of investment companies have reached a settlement in their $159 million lawsuit accusing a Russian businessman living in England of cheating them out of the profits from their investment in a new cryptocurrency.

Adrian Beltrami QC, sitting as a judge of the High Court, said in an order dated June 24 that the two sides had agreed to terms in a confidential settlement a day earlier, which meant the investors' claims were dismissed.

The investment firms alleged in documents filed on Nov. 7 that Valeri Korotkov had conned them into investing $15 million in Gram, cryptocurrency tokens issued by a...

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