By Matthew Russell Lee, Patreon Maxwell book
SDNY COURTHOUSE, Jan 12 – Amid news that DCG has received requests for interviews and documents from Eastern District of New York prosecutors, on January 12, 2023 the US Securities and Exchange Commission filed a lawsuit against Genesis Global Capital, LLC and Gemini Trust Company, LCC - Inner City Press first report here.
The SEC complaint leads with "Gemini Earn," and seeks permanent injunctions. We'll have more on this.
This case is Securities and Exchange Commission v. Gemini Trust Company, LLC et al., 23-cv-287 (Unassigned)
Previously in the SDNY, Gemini Trust Company, LLC was hit with a class action lawsuit between Christmas and New Years, where Inner City Press is in-person covering it.
Brendan Picha and Max J. Hastings, "on behalf of all others similarly situated," sued Gemini, Cameron Winklevoss and Tyler Winklevoss for "repeated false and misleading statements."
Their complaint recounts how "on or about November 16, 2022, Gemini halted the Gemini Earn program and refused to honor any further investor redemptions."
On January 3, Cameron Winklevoss published an open letter to Barry Silbert.
Silbert replied, "DCG did not borrow $1.675 billion from Genesis DCG has never missed an interest payment to Genesis and is current on all loans outstanding; next loan maturity is May 2023 DCG delivered to Genesis and your advisors a proposal on December 29th and has not received any response."
The SDNY case is Picha, et al. v. Gemini Trust Company, LLC, et al., 22-cv-10922 (Buchwald)
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