According to the ruling of the New York District Court, the leaders of the BitMEX crypto exchange artificially liquidated user positions.
In April 2020, a group of users filed a class-action lawsuit against the company's founders, Arthur Hayes, Samuel Reed, and Benjamin Delo. The plaintiffs accused the businessmen of creating a system that allowed them to receive illegal benefits. According to the authors of the lawsuit, the co-founders of the exchange used access to customer accounts and a manipulation scheme to illegally make a profit.
New York District Judge Andrew Carter announced that Benjamin Delo played a key role in creating the fraudulent scheme, being responsible for the development and implementation.
Earlier, the entrepreneur asked to dismiss the claim, claiming that the US authorities do not have jurisdiction over him as a British citizen. The court rejected the request. The businessman faces a trial with a real term of imprisonment at the end.
Representatives of the BitMEX exchange claim that the company served as a neutral market maker and did not use customer data for illegal purposes.
Earlier, Benjamin Delo received a 30-month suspended sentence for not implementing the BitMEX anti-money laundering program, violating the Bank Secrecy Law.
In April 2020, a group of users filed a class-action lawsuit against the company's founders, Arthur Hayes, Samuel Reed, and Benjamin Delo. The plaintiffs accused the businessmen of creating a system that allowed them to receive illegal benefits. According to the authors of the lawsuit, the co-founders of the exchange used access to customer accounts and a manipulation scheme to illegally make a profit.
New York District Judge Andrew Carter announced that Benjamin Delo played a key role in creating the fraudulent scheme, being responsible for the development and implementation.
Earlier, the entrepreneur asked to dismiss the claim, claiming that the US authorities do not have jurisdiction over him as a British citizen. The court rejected the request. The businessman faces a trial with a real term of imprisonment at the end.
Representatives of the BitMEX exchange claim that the company served as a neutral market maker and did not use customer data for illegal purposes.
Earlier, Benjamin Delo received a 30-month suspended sentence for not implementing the BitMEX anti-money laundering program, violating the Bank Secrecy Law.
