Why This Ex Bitcoin Supporter Faces Sentence For $20 Million Bribery Scandal ...
A former supporter of the Bitcoin mining industry and official in several of China’s regional government positions was sentenced by a court in the Zhenjiang Province. Xiao Yi was found guilty of abusing power and accepting over $20 million in bribes while serving as a public agent. Related Reading: Cardano (ADA) Has Finally Become King […]
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The Russian Ministry of Finance is taking a hard stance against Russian adopters of bitcoin and cryptocurrencies, with a proposal that -while not yet legal or enforced-aims to punish users engaging in Bitcoin trading with a prison sentence of up to 4 years. While most governing bodies around the world looks to adopt bitcoin or block chain technology or look for ways to regulate the cryptocurrency, Russia is unrelenting in its stance toward what it sees as the "trafficking" of Bitcoin. The Russian Ministry of Finance that had previously supported fines of up to 500,000 rubles or a 2-year....
John Stumpf, “Mr. Clean” of American Banking known for the lack of controversy surrounding the bank he leads, is facing a major scandal. It’s led to calls for his resignation from Wells Fargo & Co., one of the U.S.’s big four banks. Stumpf, while in charge of Wells Fargo, led the bank record profits. But, the San Francisco-based lender was made to pay $185 million to settle allegations that it opened $2 million credit card and other accounts for customers without informing them. Stumpf, who became chairman in January 2010, became CEO in June 2007. He’s been a part of Wells Fargo’s....
The accused faces a lengthy prison sentence if convicted.
A global scandal has erupted with the release of the Panama Papers implicating world leaders, billionaires, dictators, drug kingpins, famous athletes, and even movie stars. Meanwhile, Bitcoin could be a solution to the wide-scale corruption by providing privacy for the masses and transparency for the mega-rich. The biggest leak in journalistic history,....
Ross Ulbricht, the 29-year-old alleged mastermind behind the now-defunct online black market Silk Road has been indicted on charges related to computer hacking, drugs and money laundering, federal prosecutors revealed on 4th February. Notably, prosecutors found that Ulbricht engaged in "continuing criminal enterprise," a charge typically reserved for mafia members and high-profile gangsters, and sometimes referred to as "the kingpin statute". The charge adds 20 years to Ulbricht's minimum sentence, and carries a potential life sentence. Ulbricht faces a maximum life sentence for the crimes....