The Cryptocurrency Exchange OKX has reportedly hired former New York Governor Andrew Cuomo to advise it on the federal investigation that resulted in the firm that demanded the crime of many violations and agreed to pay $ 505 million in fines and penalties.
Cuomo, a lawyer registered in New York, advised OKX on legal issues originating in investigation after August 2021 when he resigned as New York Overnor, Bloomberg reported On April 2, mentioning people who are familiar with this matter.
“He regularly talked to the executive executives and advised them how to respond to the criminal investigation,” Bloomberg said.
The firm based in seychelles PLED GUILTY In running a unlicensed business sending money in violation of US anti-money laws on February 24 and agreed to pay $ 84 million worth of penalt Institutional clients.
Violations have taken place from 2018 to 2024 despite OKX that there is an official policy that has preventing US in the US from transacting the crypto exchange since 2017, the Department of Justice has been mentioned at that time.
A spokesman for Cuomo, Rich Azzopardi, told Bloomberg that Cuomo is providing private Legal services representing individuals and corporations in various things since resignation as governor of New York.
“He does not represent clients before a New York City or state agency and regularly recommend former colleagues for positions,” Azzopardi added.
OKX has been reported not to comment on its relationships with the outside of the company.
Cuomo also influenced OKX to make executive appointments: Bloomberg
Cuomo, who is now running for the mayor of New York City, also advised OKX to appoint his US friend Linda Lacewell to the OKX directors board, Bloomberg said.
Lacewell, a former superintendent of the New York Department of Financial Services, was added to the Board in 2024 and named the new Chief Officer of OKX on April 1, According to in a recent company statement.
Source: Linda Lacewell
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After the investigation is completed, Okx said it will look for a Compliance consultant To solve issues derived from federal investigation and strengthen the regulation compliance program.
“Our vision is to make OKX the gold standard of global compliance with different markets and their regulatory bodies,” Okx CEO star xu Says In a post of February 24 x.
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