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Regulation
NFT Marketplace Worker Charged With Wire Fraud and Money Laundering
Nathaniel Chastain was arrested for what the Justice Department calls the ‘first ever digital asset insider trading scheme.’
Nathaniel Chastain was arrested for what the Justice Department calls the ‘first ever digital asset insider trading scheme.’
Andrew Middlebrooks allegedly embezzled money from investors to pay for jewelry, credit card bills and his wife’s business.
The owners of EmpowerCoin, ECoinPlus and Jet-Coin face charges of wire fraud, money laundering and obstruction of justice, among others.
CEO Manish Lachwani allegedly falsely inflated the software firm’s revenue by $800 million.
The regulator gave $564 million to 108 tipsters, while distributing $521 million to harmed investors.
The regulator says it is ‘intently focused on SPAC merger transactions.’