ChainCatcher reported that the U.S. Securities and Exchange Commission (SEC), the Federal Bureau of Investigation (FBI), and the Department of Justice (DOJ) jointly filed a lawsuit against four crypto companies suspected of fraud and market manipulation on October 9, including Gotbit Consulting, ZM Quant Investment, and CLS Global. Two lawsuits were also filed against individuals related to the case, a total of nine individuals were prosecuted, and some defendants agreed to separate settlements.
Gotbit Consulting and its marketing director Fedor Kedrov were accused of manipulating the market through wash trading on behalf of individuals who promoted cryptocurrencies called Saitama and Robo Inu. Two other companies, ZM Quant Investment and CLS Global, face nearly identical charges related to a token called NexFundAI, which was created by the FBI. ZM Quant and four people associated with Pham were also charged over another crypto asset, SaitaRealty Coin.
The persons involved in this case are located in multiple countries, including the United States, Russia and India, reflecting the complexity and extensiveness of the case.
