Gemini, Genesis, and DCG have been sued by the state of New York for allegedly defrauding clients of $1.1 billion.

According to BlockBeats news on October 19th, New York Attorney General Letitia James announced on Thursday that her office has filed a lawsuit against Gemini Trust, Genesis Global, and DCG for defrauding approximately 230,000 investors for over $1 billion. The civil suit also alleges that former Genesis CEO Soichiro Moro and DCG founder and CEO Barry Silbert attempted to conceal the true financial condition of their lending unit, Genesis, from the Gemini trading platform, its customers, and the public.