GemCoin

GemCoin Founder Sentenced to 10 Years for $147M Crypto Scheme

The judge scheduled a restitution hearing for victim investors this summer.

News  ·  11 January 2021
FBI

Gemcoin Founder Agrees to Plead Guilty to Fraud, Tax Evasion for $147M Scheme

Steve Chen agreed to plead guilty to tax evasion and conspiracy to commit wire fraud in connection with the $147 million Gemcoin scheme.

News  ·  19 February 2020
Crime

‘Gemcoin’ Ponzi Scheme Operator Hit With $74 Million Judgment

One of the leaders of a Ponzi scheme that involved a fictitious cryptocurrency has been ordered to pay $74 million.

Policy & regulation  ·  15 March 2017
Crime

GemCoin Investors Seek $100 Million in Class Action Lawsuit

An $100m class action lawsuit has been filed on behalf of victims of an alleged Ponzi scheme involving the fake cryptocurrency 'Gemcoin'.

Policy & regulation  ·  8 October 2015
Crime

SEC Seizes Assets from Alleged Altcoin Pyramid Scheme

A California company promoting a digital currency called GemCoin has had its assets seized by the US government amid allegations of fraud.

Policy & regulation  ·  1 October 2015