Bad return, Fraud Magazine
Featured Article

A bad return on your money

Please sign in to save this to your favorites.

In April, Michael Kane, the former CEO of a New York-based financial technology company, Hydrogen Technology Corporation, found himself possibly facing decades in prison after federal prosecutors charged him and co-conspirators with falsely inflating the price of their virtual token to lure investors into a scheme that yielded $2 million in profits for the firm but left its victims out of pocket. [See “Five Individuals Charged in $2M Virtual Asset and Securities Manipulation Scheme,” U.S. Department of Justice (DOJ), April 24, 2023.]

Begin Your Free 30-Day Trial

Unlock full access to Fraud Magazine and explore in-depth articles on the latest trends in fraud prevention and detection.