June 2024 - cypherpunks - lists.cpunks.org

Fintech Lender Ran 'Bait & Switch' With Borrowers, Suit Says
by Gunnar Larson 08 Jun '24

08 Jun '24

Fintech Lender Ran 'Bait & Switch' With Borrowers, Suit Says <https://www.law360.com/banking/articles/1845048?nl_pk=feb6bbba-7878-4d39-be…> By Emilie Ruscoe Fintech company Figure Lending LLC faces a proposed class action alleging its home equity lines of credit are actually intentionally mislabeled home equity loans with higher interest rates and fees. Complaint attached | Read full article » <https://www.law360.com/banking/articles/1845048?nl_pk=feb6bbba-7878-4d39-be…> | Save to favorites » <https://www.law360.com/banking/articles/1845048?nl_pk=feb6bbba-7878-4d39-be…>

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Treasury Eyes AI As OCC Chief Calls For More 'Accountability'
by Gunnar Larson 08 Jun '24

08 Jun '24

Treasury Eyes AI As OCC Chief Calls For More 'Accountability' <https://www.law360.com/banking/articles/1845023?nl_pk=feb6bbba-7878-4d39-be…> By Jon Hill The U.S. Department of the Treasury on Thursday launched an inquiry into the rollout of artificial intelligence in financial services, a move that came as the Office of the Comptroller of the Currency's acting chief cautioned that a Wall Street "nightmare" scenario involving the technology "seems uncomfortably plausible." 1 document attached | Read full article » <https://www.law360.com/banking/articles/1845023?nl_pk=feb6bbba-7878-4d39-be…> | Save to favorites » <https://www.law360.com/banking/articles/1845023?nl_pk=feb6bbba-7878-4d39-be…>

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Feds Copied Privileged Doc In OneTaste Charges, Execs Say
by Gunnar Larson 08 Jun '24

08 Jun '24

Feds Copied Privileged Doc In OneTaste Charges, Execs Say <https://www.law360.com/newyork/articles/1844738?nl_pk=ac5a3855-e47c-4403-be…> By Elliot Weld Two executives of sexual wellness company OneTaste have renewed their bid to throw out the indictment against them on forced-labor conspiracy charges, claiming prosecutors used a privileged document to tailor the charges. Letter attached | Read full article » <https://www.law360.com/newyork/articles/1844738?nl_pk=ac5a3855-e47c-4403-be…> | Save to favorites » <https://www.law360.com/newyork/articles/1844738?nl_pk=ac5a3855-e47c-4403-be…>

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Kwok's 'Whole Movement Is A Scam,' Ex-Fundraiser Tells Jury
by Gunnar Larson 08 Jun '24

08 Jun '24

Kwok's 'Whole Movement Is A Scam,' Ex-Fundraiser Tells Jury <https://www.law360.com/newyork/articles/1845257?nl_pk=ac5a3855-e47c-4403-be…> By Rachel Scharf A former top deputy in exiled Chinese billionaire Ho Wan Kwok's anti-Chinese Communist Party movement testified in Manhattan federal court this week that she raised millions of investor dollars out of a deep belief in the cause, but has since realized the entire enterprise was a "scam." Read full article » <https://www.law360.com/newyork/articles/1845257?nl_pk=ac5a3855-e47c-4403-be…> | Save to favorites » <https://www.law360.com/newyork/articles/1845257?nl_pk=ac5a3855-e47c-4403-be…>

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NY AG Says $1B Crypto Pyramid Scheme Targeted Immigrants
by Gunnar Larson 08 Jun '24

08 Jun '24

NY AG Says $1B Crypto Pyramid Scheme Targeted Immigrants <https://www.law360.com/newyork/articles/1845209?nl_pk=ac5a3855-e47c-4403-be…> By Aislinn Keely The New York Attorney General's Office on Thursday accused a digital assets trading firm, its founders and an affiliated crypto mining firm of running a billion-dollar pyramid scheme that defrauded hundreds of thousands of investors, many of whom are members of Haitian and other immigrant communities. Complaint attached | Read full article » <https://www.law360.com/newyork/articles/1845209?nl_pk=ac5a3855-e47c-4403-be…> | Save to favorites » <https://www.law360.com/newyork/articles/1845209?nl_pk=ac5a3855-e47c-4403-be…>

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NY Prosecutor Says DOJ Self-Disclosure Policies Are Working
by Gunnar Larson 08 Jun '24

08 Jun '24

NY Prosecutor Says DOJ Self-Disclosure Policies Are Working <https://www.law360.com/legalethics/articles/1845297?nl_pk=153d4a8a-6fb9-4a5…> By Sarah Jarvis The proliferation of policies across the U.S. Department of Justice crediting firms and individuals for voluntarily self-disclosing misconduct indicates the approach is effective, even though instances of such disclosures aren't overwhelming, a senior federal prosecutor in New York told a gathering of compliance officers on Thursday. Read full article » <https://www.law360.com/legalethics/articles/1845297?nl_pk=153d4a8a-6fb9-4a5…> | Save to favorites » <https://www.law360.com/legalethics/articles/1845297?nl_pk=153d4a8a-6fb9-4a5…>

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White Collar Boutique Sued By Ex-Client Over Representation
by Gunnar Larson 08 Jun '24

08 Jun '24

White Collar Boutique Sued By Ex-Client Over Representation <https://www.law360.com/legalethics/articles/1845205?nl_pk=153d4a8a-6fb9-4a5…> By Katryna Perera White collar boutique Clark Smith Villazor LLP and one of its name partners is facing a lawsuit from a former client, a convicted securities fraud defendant who claims the firm caused him to be arrested by the FBI and face millions of dollars in fines. Complaint attached | Read full article » <https://www.law360.com/legalethics/articles/1845205?nl_pk=153d4a8a-6fb9-4a5…> | Save to favorites » <https://www.law360.com/legalethics/articles/1845205?nl_pk=153d4a8a-6fb9-4a5…>

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Law Firms Accused Of Missing 'Red Flags' In NJ Fraud Deal
by Gunnar Larson 08 Jun '24

08 Jun '24

Law Firms Accused Of Missing 'Red Flags' In NJ Fraud Deal <https://www.law360.com/legalethics/articles/1844326?nl_pk=153d4a8a-6fb9-4a5…> By Emily Sawicki A legal malpractice suit filed in New Jersey state court accuses Rivkin Radler LLP and Kunstlinger Law Firm LLC of costing clients millions of dollars by failing to detect "obvious 'red flags'" amid a fraudulent business deal. Complaint attached | Read full article » <https://www.law360.com/legalethics/articles/1844326?nl_pk=153d4a8a-6fb9-4a5…> | Save to favorites » <https://www.law360.com/legalethics/articles/1844326?nl_pk=153d4a8a-6fb9-4a5…>

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Fwd: Your Freedom of Information Law (FOIL) Request FOIL-2024-097182-022313 (New York State Department of Financial Services (DFS) investigation of Genesis Global Trading, Inc. (“Genesis Global Trading”)
by Gunnar Larson 08 Jun '24

08 Jun '24

2024-097182: 3/29/24: Dear Madam or Sir: xNY.io - Bank.org seeks access to any and all records concerning the New York State Department of Financial Services (DFS) investigation of Genesis Global Trading, Inc. (“Genesis Global Trading”) leading to seizure of the firm's BitLicense. Additionally, xNY.io - Bank.org seeks access to records that explain DFS' calculated $8 million penalty to New York State for compliance failures that violated DFS’s virtual currency and cybersecurity regulations and left the company vulnerable to illicit activity and cybersecurity threats. xNY.io - Bank.org notes DFS has recently published other BitLicense penalties of $100M and $30M. As such, we aim to review accessible records in congruence with Genesis' $8M penalty. xNY.io - Bank.org seeks records that indicate any human rights violations part of the compliance failures that violated DFS’s virtual currency and cybersecurity regulations and left the company vulnerable to illicit activity and cybersecurity threats. Finally, xNY.io - Bank.org seeks any and all STX records associated with the Genesis investigation. The very best, Gunnar Larson ---------- Forwarded message --------- From: <Joanne.Verdejo(a)dfs.ny.gov> Date: Fri, May 31, 2024, 10:41 AM Subject: Your Freedom of Information Law (FOIL) Request FOIL-2024-097182-022313 To: <G(a)xny.io> Good morning, Attached please find correspondence from the NYS Department of Financial Services, pertaining to your FOIL request. Thank you. Tracking Number:FOIL-2024-097182-022313 -- SENT VIA EMAIL G(a)xny.io May 31, 2024 Gunnar Larson 406 W. 25th Street New York, NY 10001 Re: FOIL Tracking No. 2024-097182 Dear Gunnar Larson: I write with respect to your above-referenced FOIL request, assigned the tracking number 2024- 097182. The New York State Department of Financial Services (DFS) requires additional time to complete its response to your request. DFS anticipates completing your request on or about July 5, 2024. We appreciate your continued patience. Thank you.

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Fwd: Your Freedom of Information Law (FOIL) Request FOIL-2024-097130-022341 (BREX and the The Alliance for Regulatory Innovation)
by Gunnar Larson 08 Jun '24

08 Jun '24

2024-097130: 3/8/24: We would like to revisit this FOIL request. Can you please update update us if DFS has any records concerning BREX and the The Alliance for Regulatory Innovation and Brex, Inc. ---------- Forwarded message --------- From: <Edward.Meltzer(a)dfs.ny.gov> Date: Fri, Jun 7, 2024, 9:09 AM Subject: Your Freedom of Information Law (FOIL) Request FOIL-2024-097130-022341 To: <g(a)xny.io> Good morning, Attached please find correspondence from the NYS Department of Financial Services, pertaining to your FOIL request. Thank you. Tracking Number:FOIL-2024-097130-022341 -- SENT VIA EMAIL g(a)xny.io June 7, 2024 Gunnar Larson Re: FOIL Tracking No. 2024-097130 Dear Gunnar Larson: I write with respect to your above-referenced FOIL request. The New York State Department of Financial Services (DFS) requires additional time to respond to your request, assigned the tracking number 2024-097130, because we are still working on your request. DFS intends to provide its determination of your request by July 8, 2024. We appreciate your continued patience. Thank you. --

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