New York State Attorney General Expands Lawsuit Against Gemini and DCG for $3 Billion

The U.S. Office of the Attorney General (OAG) for the State of New York announced on Friday that it seeks to expand its lawsuit against Digital Money Group, Inc. (DCG), DCG Chief Executive Officer Barry Silbert, and Genesis Global Capital, LLC for $3 billion. According to New York State Attorney General Letitia James, an ongoing investigation has revealed that the defendants perpetrated additional frauds amounting to up to $2 billion against additional customers, collectively defrauding more than 230,000 investors for a total of more than $3 billion. In light of these complaints, the Attorney General's office filed an amended complaint and is currently seeking more than $3 billion in damages for defrauded investors.