Crypto Firm Founders Hit With Fraud Charges And SEC Suits
By Sarah Jarvis (April 28, 2022, 9:35 PM EDT) -- The co-founders of a cryptocurrency trading firm are facing criminal charges and suits from the U.S. Securities and Exchange Commission over allegations they lied to investors about the company's automated trading functions and how they would use investor funds.
The U.S. Attorney's Office for the Northern District of California said in a Wednesday announcement that Japheth Dillman was arrested over a purported scheme to defraud investors in the San Francisco-based Block Bits Fund I LP. He and his purported co-conspirator, David Mata, were each charged with one count of wire fraud, prosecutors said.
According to the prosecutors' announcement, Dillman raised about...
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