Genesis Files Suits Against DCG to Recover Billions Wart of Allegedly Fraudulent Transfers

In Total, Genesis and ITS Credites Are Sesting $ 3.2 Billion Across The Two Lawsuits. IT is seeking to recover $ 2.2 Billion in a Suit FILED IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE AND MORE THAN $ 1 Billion in a Suit at the Bankring Court for the SOURC.

The New York Filing Says Money Was withdrawn from Genesis to Repay DCG, Silbert, Affiliates and Other Insiders in the Year That Led Up To Genesis Filting for Capter 11 Even Thouhh.

They “Knew Through Their Close Relationship with Genesis that Its Business Was on the Brink of Collaps” and Took The Opportunity to WitHDraw All Their Assets and Recover 100% of Crypto. While Members of the Public Were “Kept in the Dark,” The Suit Alleges.

Genesis Suspended withdrawals in November 2022 and Went Into Bankring the Following Year.

“Silbert and his cronies recklessly operated, explorated, and then bankrupted Genesis Following A Spectacular Campaign of Fraud and Self-Dealing,” The Delaware Filting Alleges.

ITS CREDITORS ARE STILL SHORT $ 2.2 Billion Worth of Crypto Assets Including Bitcoin

Ether

and Other Tokens, The Filing Said.

Alongside Seneking an Award of Damages, Genesis Wants An Equitable Trust Over Over Any Assets The “Defendants Improperly Took or Converged Durying Their Tenure as Managers, Officers, Directors, Directors, Directors, Directors.

“TheSe Baseless Lawsuits Recycle the Same Tire, Two-Year Old Claims in an Opportunistic Attempt by Sophisticated Investors to Extract Addrations. “We worked in good faith with a wide Range of Stakeholders to TRY to ACHIEVE A COMPERHENSIVE REASIVation of the DCG-RELATED ASPECTS Spuroures Claims. ”