GS Partners Accused of Defrauding Crypto Investors in Metaverse Schemes
Federal prosecutors in the Southern District of New York have accused three brothers and their firm, GRS Partners, of running scams to defraud crypto investors of millions of dollars in Metaverse investments. According to the criminal complaint, Christopher Griffin, Matthew Griffin and Nicholas Griffin, operated three Metaverse-based schemes to defraud twenty-five investors of more than $20 million. The siblings allegedly scammed investors by falsely promising them returns on their investments, while withholding key details about the risks associated with their investments. The defendants allegedly also engaged in insider trading to inflate the prices of the Metaverse-based securities that they sold to unwitting investors. Additionally, the trio are accused of using the proceeds of the fraudulent schemes to purchase luxury cars, exotic vacation trips, and properties.