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World Business Report: First broadcast 19/10/2023 14:32 GMT : New York attorney general sues crypto firms for alleged investor fraud

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First broadcast 19/10/2023 14:32 GMT 

First broadcast 19/10/2023 14:32 GMT : New York attorney general sues crypto firms for alleged investor fraud

New York attorney general sues crypto firms for alleged investor fraud

BBC World Service - World Business Report, New York attorney general sues crypto firms for alleged investor fraud

The New York attorney general is suing three crypto firms for alleged investor fraud

New York attorney general Letitia James is suing three crypto firms, Genesis Global and parent company Digital Currency Group, for allegedly defrauding investors of $1 billion.

The New York New York Attorney General has launched legal action against the cryptocurrency firms Genesis Global, its parent company Digital Currency Group  or DCG, and Gemini - accusing them of "defrauding" investors of more than $1 billion dollars. Experts say the development illustrates the challenges the crypto industry is facing. Gemini Trust has denied the claims against it and responses have been requested of the other firms. Our North America Business Correspondent Michelle Fleury brings us the latest on the story.

Nestlé is closing a baby milk factory in Ireland - blaming a falling birthrate in China, which it says has led to reduced demand for the product.  Five hundred jobs will be lost as a result. A former worker at the factory in Askeaton, County Limerick who now runs a guest house there, explains how the closure will affect him.

Netflix results beat expectations - but also announces price rises in France, the US and UK.  Customers in Paris give us their reaction to the news.

(Picture: Attorney General Letitia James leaves the courtroom for a lunch break during the civil fraud trial of Former President Donald Trump at New York State Supreme Court on October 17, 2023 in New York City.  Credit: Michael M. Santiago/Getty Images)

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First broadcast 19/10/2023 14:32 GMT : New York attorney general sues crypto firms for alleged investor fraud

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