NY Fraud Suit Against Gemini, DCG Now Seeks $3 Billion (2)

The alleged fraud involving Gemini Trust Co. and Barry Silbert’s Digital Currency Group was three times bigger than initially thought, the New York attorney general said in a revised lawsuit that now seeks $3 billion in restitution for more than 230,000 investors.

The civil complaint was initially filed in October seeking $1.1 billion. But it’s been amended after additional DCG investors came forward to claim they’d been misled about the safety of their investments, New York Attorney General Letitia James said Friday in a statement. The amended suit doesn’t include new allegations against Gemini.

The suit accuses Gemini, ...