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DCG strengthens legal arsenal, hires first director during dispute New York

This decision clearly underscores DCG’s commitment to shaping the legal landscape of cryptocurrencies and blockchain, while providing professional support in the face of growing legal challenges.

Date: 2024-04-26 Author: Łukasz Michałek
DCG strengthens legal arsenal, hires first director during dispute New York

Digital Currency Group (DCG), the parent company of failed cryptocurrency lender Genesis, has appointed its first-ever chief legal officer in connection with a lawsuit filed by the New York Attorney General.

In a statement on Thursday, DCG said it had appointed Aimie Killeen as its chief legal officer. Prior to this role, she served as chief legal officer at Billtrust, a software and payments company.

She will begin her new position on May 1 and will oversee international legal, M&A and compliance issues, according to the statement.

“We are delighted to welcome Aimie to the DCG leadership team as we execute our growth plans while navigating the changing industry landscape,” DCG CEO Barry Silbert said in a statement.

Legal challenges prompt DCG hiring

Prior to Billtrust, Killeen spent nine years at Australian law firm Ashurst. She then became a top lawyer at DirectCash, a financial services company. After DirectCash was acquired by CardTronics, an ATM manufacturer, she became executive vice president there.

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The appointment comes amid DCG’s recent legal challenges. In January 2023, its subsidiary Genesis declared bankruptcy following the collapse of the FTX exchange.

DCG is grappling with allegations of fraud among investors

The company is currently fighting a lawsuit alleging investor fraud. Last month, CEO Silbert sought dismissal of a lawsuit filed by New York AG Letitia James. The lawsuit, filed in October and later expanded, claims that DCG hid losses from investors affiliated with Gemini Earn, defrauding them of $3 billion.

It further alleges that DCG and Silbert concealed financial irregularities in the form of a promissory note between the parent company and Genesis.

The lawsuit seeks to prevent Gemini, Genesis and DCG from conducting financial investment activities in New York, and to compensate investors and recover any unlawfully obtained profits.

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Łukasz Michałek
Łukasz Michałek
Founder of the rapidly developing cryptocurrency channel "Biblia Kryptowalut" on YouTube. He also co-creates the Arena Trading group with Marek. Łukasz is fascinated and passionate about blockchain technology and cryptocurrencies, which constitute the central element of his activity in the cryptocurrency industry.
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