Bankrupt crypto fund EmpiresX settles with US SEC, will pay nearly $35 million in fines
24/05/2023 10:00
The U.S. Securities and Exchange Commission (SEC) has reached a settlement with crypto hedge fund EmpiresX, with the defunct firm agreeing to pay $34.84 million in fines on charges of defrauding investors and violating securities laws, CoinGeek reported. In June last year, the SEC announced fraud charges against EmpiresX and its co-founders Emerson Sousa Pires, Flavio Mendes Goncalves, and chief trader Joshua David Nicholas. A large sum of funds of the investor is taken for himself.