Companies are prohibited from participating in cryptocurrency transactions on trading platforms available to investors in the United States. CLS Global is also obliged to confirm annually that he complies with the prohibitions imposed on it.
According to the US Department of Justice, CLS Global is registered in the UAE. More than 50 people worked in the company – all employees were outside the staff, but they offered cryptocurrency services to American investors. In January 2025, CLS Global found himself guilty of conspiracy to commit market manipulations and fraud using electronic means.
In September 2024, the companies were charged with criminal charges – after the US law enforcement agencies conducted an operation to identify fictitious trade in cryptocurrencies. For this, the US Federal Bureau of Investigations (FBI) has created its own NexFundai token based on the Ethereum, which was traded on the Uniswap cryptocurrency exchange.
CLS Global agreed to provide the services of a Market maker for the NexFundai token, which included “fictitious trading” and attract investors to buy token fraud. At video conferences conducted from July to August 2024, the CLS Global employee promised to “help with the trading volume” so that the Nexfundai meets the requirements of the listing at the crypto -rope, the Ministry of Justice said.
According to the CLS Global employee, the company used an algorithm that makes independent transactions by buying and selling coins from several wallets. This created the appearance of organic purchases and sales of crypto assets. An employee of the company assured that it is very difficult to track transactions, and the company “turned” it for many customers.
In February, the American authorities fined the founders of the Empirex cryptocurler for $ 130 million for deception of investors and embezzlement of client funds. Earlier, the US Federal Court ordered the BitMEX crypto -USEC to pay a fine of $ 100 million for violation of the law on banking secret.
Source: Bits
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