U.S. Department of Justice: The CEO of investment company “SAM” was sentenced to two years in prison for participating in a “merit-picking scheme” fo
According to the announcement issued by the US Department of Justice, Peter Kambolin, CEO of investment company Systematic Alpha Management LLC (SAM), has been sentenced to two years in prison and ordered to forfeit $1.6 million for implementing a "preferential plan" involving algorithmic trading strategies for cryptocurrency futures contracts in marketing. It is reported that Systematic Alpha Management LLC was established in 2007, and as of 2011, its assets under management exceeded $720 million. From January 2019 to November 2021, Kambolin, who was then a commodity trading advisor and commodity pool operator, participated in a "preferential plan" and fraudulently allocated profits and losses from futures trading for his own benefit.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
SEC Postpones Review of 21Shares and Bitwise Solana ETFs in the US
Marinade Launches $MNDE Rewards Program Focusing on Authentic Creators
Australian Authorities Forfeit $2.88M in Assets Tied to Suspected Crypto Crime
A Queensland man has lost control of millions in luxury assets, including Bitcoin, a waterfront mansion, and a Mercedes-Benz after Australian authorities linked them to suspected criminal proceeds.
Tether Overtakes Germany in US Treasury Holdings, Signaling Strength of Its Reserve Strategy
In a striking display of financial heft and stability, Tether has overtaken Germany in U.S. Treasury bill holdings, underscoring its dominant position in the digital asset ecosystem and its conservative approach to reserve management.
Trending news
MoreCrypto prices
More
