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Genesis Files $3.1B Lawsuit Against DCG for Fraud and Asset Mismanagement
Genesis Files $3.1B Lawsuit Against DCG for Fraud and Asset Mismanagement
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Genesis Global Capital has launched two lawsuits against its parent company, Digital Currency Group (DCG), alleging fraudulent transfers and creditor deception. The filings seek to recover over $3.1 billion, including $2.1 billion in digital assets allegedly diverted to DCG affiliates.
Delaware court documents reveal Genesis’ claim that DCG used the lender as an alter ego, orchestrating improper transfers including a $1.1 billion promissory note and $1.2 billion in assets. These moves allegedly shielded DCG from financial fallout while compromising Genesis’ stability.
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