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Violation Tracker Individual Record

Company: Genesis Global Holdco, LLC et al.
Penalty: $2,000,000,000
Year: 2024
Date: May 20, 2024
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: Genesis Global Holdco, LLC, Genesis Global Capital LLC, and Genesis Asia Pacific PTE Ltd. settled for $2 billion for defrauding investors. The settlement, which required review and approval by a bankruptcy court due to Genesis’ previous bankruptcy declaration, will establish a victims fund to help defrauded investors after the companies concealed more than $1.1 billion in losses from investors that provided digital assets through an investment program. This is the largest settlement against a cryptocurrency company in state history.
Level of Government: state
Action Type: agency action
Agency: New York Attorney General
Civil or Criminal Case: civil
Facility State: New York
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.