CLS Global Pleads Guilty to Wash Trading on Uniswap
- CLS Global, a Dubai-based crypto market maker, agreed to plead guilty to wash trading charges.
- The company will pay $428,059 in seized cryptocurrency and penalties.
- Charges include conspiracy to commit market manipulation and wire fraud.
- An FBI sting operation involving the NexFundAI token led to these charges.
- The SEC is pursuing a related civil enforcement action against CLS Global.
CLS Global has admitted to engaging in wash trading activities on the Uniswap platform, resulting in a plea agreement that includes paying $428,059 in penalties and forfeitures. The company’s involvement was uncovered through an FBI investigation into their manipulative trading practices using the NexFundAI token.
Source (2.6)https://www.theblock.co/post/336271/crypto-market-maker-cls-global-admits-to-wash-trading-on-uniswap-after-fbi-investigation
