Gemini, Genesis, and DCG are accused of fabricating financial conditions to cover up a $1 billion hole

ChainCatcher news, New York Attorney General Letitia James announced on Thursday that her office has sued Gemini Trust, Genesis Global, and Digital Money Group for defrauding approximately 230,000 investors out of more than $1 billion.

The civil lawsuit also accuses former Genesis CEO Soichiro Moro and DCG founder and CEO Barry Silbert of attempting to conceal the true financial condition of their lending division, Genesis, from the Gemini trading platform, its customers, and the public.