The trend of holding executives personally liable for anti-money laundering and compliance failures by their organizations continues.
On October 1, the CFTC announced the filing of a civil enforcement action charging five entities and three individuals that own the BitMEX cryptocurrency exchange with operating an unregistered trading platform, and for BitMEX’s failure to implement KYC procedures or a Customer Information Program. The CFTC press release is available here.
The U.S. Attorney for the Southern District of New York also indicted the three individuals (along with a fourth), on federal charges of violating the Bank Secrecy Act. You can download a copy of the SDNY indictment here.