News

DCG, Top Executives Renew Push to Get New York AG’s Civil Fraud Suit Dropped

In her lawsuit, James alleged that Genesis and DCG made “false assurances” on Twitter that DCG had absorbed Genesis’ losses from 3AC’s implosion, which were crafted to put investors at ease and prevent them from calling in their open loans. But, instead of actually filling the billion-dollar hole with a cash injection, DCG allegedly just patched it over with a promissory note, pledging to pay Genesis $1.1 billion over ten years at 1% interest. According to James, DCG has “never made a single payment under the Note.”

SOURCE

Leave a Comment

api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api api