NY Attorney General Charges Crypto Affiliates Gemini, Genesis and DCG with Fraud

“Blaming a victim for being defrauded and lied to makes no sense,” Gemini responded to the charges.

New York Attorney General Letitia James in New York City on Aug. 3, 2021. David Dee Delgado/Getty Images

New York State Attorney General Letitia James filed a suit on Oct. 19 against Gemini, a New York cryptocurrency exchange, and Genesis Capital, a cryptocurrency lender, together with founders Barry Silbert and former Genesis CEO Soichiro “Michael” Moro, charging them with “fraudulent schemes.”

An affiliated company, Digital Currency Group (DCG), was also charged in the suit.