Statement of Allegations alleging a US$51 million crypto-based investment fraud in the Ontario Securities Commission v. Troy Richard James Hogg, of Canada; Cryptobontix Inc., of Canada; Arbitrade Exchange Inc., of Canada; Arbitrade Ltd., of Bermuda; T.J.L. Property Management Inc., of Canada, and Gables Holdings Inc., of Canada, before the OSC's Capital Markets Tribunal.
U.S. and Canadian regulators accuse Bermuda’s Arbitrade & insiders of ‘$51M crypto investment fraud’
Nearly four years after it was exposed by OffshoreAlert, Bermuda-domiciled Arbitrade Ltd. and related parties, including Troy Hogg, Stephen Braverman, James Goldberg, and Max Barber, have been accused of perpetrating a $51 million crypto-based investment fraud by securities regulators in the United States and Canada.
New York property developer Kent Swig and firms he controls, including his Dignity Gold group that claims to have billions of dollars of gold backing a scandal-plagued, crypto-based investment scheme that has operated in Canada, Bermuda, and the United States, are being sued for $7.1 million in allegedly outstanding loans.
Complaint alleging unpaid loans totaling $7.1 million in Louden Broadway Properties LLC v. Kent M. Swig, HSI Holdings LLC, Dignity Gold LLC, and Dignity Holdings LLC at the U.S. District Court for the Southern District of Florida.
Summons with Notice for $342,275 in allegedly unpaid rent in Lincoln International LLC v. Helmsley Spear LLC, Falcon Pacific Construction/Builders LLC, Swig Equities LLC, Kent M. Swig, and Dignity Holdings LLC, the latter two of which are involved in a crypto-based investment scheme known as Dignity Gold, at the Supreme Court of the State of New York, County of New York.
Complaint "to recover for tens of millions of dollars and/or equitable relief for a series of transactions by which defendants mulcted tens of millions of dollars from plaintiff" regarding a cryptocurrency scheme involving entities in Bermuda, Canada, United Arab Emirates, and USA in Troy James Hogg, of Canada; Leila Holdings Ltd., which is identified as a Canadian company in the complaint even though it appears to be domiciled in Bermuda, derivatively and on behalf of Arbitrade Ltd., of Bermuda v. Stephen Lance Braverman, described as a resident of California; Kent Mason Swig, of New York; Dignity Holdings LLC, of Delaware; Dignity Mining Group LLC, of Delaware; Dignity Gold LLC, of Delaware; Charles Hamlin Woodworth, of New Jersey; Max Warren Barber, of Utah; William Richard Sanders, of Tennessee; Scotia International of Nevada Inc., of Utah; SION Trading FZE, of the United Arab Emirates; Prieur Leary, of Florida; CoinMint LLC, of Puerto Rico, and Hayden Gill, of Montana, at the Supreme Court of the State of New York, County of New York.
Complaint alleging "fraudulent and harassing behavior" in Dignity Corp., described as a Delaware-domiciled, New York-based company whose principals are Stephen Braverman and Kent Swig v. Does, including those using "the Twitter handles @CryptoDadi_, @StillNoGold, @MrSmileyBrave, @BravermanSteve, @CryptoShadyyy, @ConmanSteve, @SteveBrave3l_, @SteveBraverman, @CapRforSimon, @DnbDig, @TroyJamesh0gg, @McNicholas, @Maarten89NL, @Maarten_Marteen, @DBokhem, @mostwnted1, and @PRNewswire_" and "the fake names "Soren Christiansen" and "Simon Hoedemaker" on Telegram", at the U. S. District Court for the Central District of California.
A judgment for $427,552 has been entered against UAE-domiciled SION Trading and Utah-based Scotia International of Nevada for non-payment of gold and silver that was used for a cryptocurrency scam that began in Canada, moved to Bermuda, and is currently being conducted by firms in Delaware.