Hedge fund founder, who claimed to use an algorithm to buy cryptocurrency, pleads guilty to massive fraud. — AFP
A 24-year-old founder of two New York-based cryptocurrency hedge funds with more than US$100mil (RM407.45mil) in investments pleaded guilty Thursday to securities fraud.
Stefan He Qin was charged with duping investors by claiming he used a trading algorithm to take advantage of price differences for a number of cryptocurrencies, federal prosecutors said in an emailed statement.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
