The Digitex Futures Exchange CEO was previously ordered to pay $16 million in penalties for failing to register with the CFTC and manipulating the price of its native token.
A United States federal court has charged Adam Todd — the founder and CEO of Digitex Futures Exchange — with violating the Bank Secrecy Act by failing to establish and implement an Anti-Money Laundering (AML) program.
The Bank Secrecy Act (BSA) is considered a critical tool in the fight against financial crimes. Establishing an AML program is vital to BSA compliance, as it mandates financial institutions to keep records and notify the Financial Crimes Enforcement Network (FinCEN) of certain transactions.
The charges against the exchange’s CEO were made public by the U.S. Attorney’s Office for the Southern District of Florida on Feb. 12. The Federal Bureau of Investigation (FBI) Miami carried out the investigation, and Assistant U.S. Attorney Trevor Jones is prosecuting the case.
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Source: https://cointelegraph.com/news/digitex-futures-exchange-ceo-indicted