US Charges Stanford Crypto Group Director With Defrauding His Former Employer – the Fed

US Costs Stanford Crypto Neighborhood Director With Defrauding His Worn Employer – the Fed

The govt. director of Stanford’s Draw forward for Digital Forex Initiative, Lawrence Rufrano, is facing federal wire fraud charges following a disability advantages fraud investigation by his extinct employer, the Federal Reserve.

  • Prosecutors say Rufrano hid employment at two law firms, three firms and a college whereas also gathering long-time duration disability advantages from the Federal Reserve System for 5 years after departing because of a “purported” psychological sickness.
  • CoinDesk found on the least two of Rufrano’s jobs intersected with cryptocurrency and the blockchain ecosystem. He directed Stanford’s digital forex team and likewise told Factom, a now-defunct protocol type company. Rufrano will be listed as an adviser to Christopher Giancarlo’s Digital Dollar Venture.
  • The Stanford Draw forward for Digital Forex Initiative researches “all kinds” of digital forex with the arrangement of standardizing their technicals and enticing executive stakeholders, in step with its most modern web space. It boasts Ripple and IBM as corporate sponsors. Rufrano remaining looks as its govt director in an Oct. 25 cached model of the on-line space.
  • Rufrano also led the Stanford College of Engineering’s Evolved Monetary Technologies Lab. He managed that AI-focused program’s relationships with banks and fund managers, in step with the felony grievance.
  • Stanford didn’t straight return questions referring to its ties to Rufrano.
  • An Oct. 21 felony grievance suggests Rufrano also assisted an unnamed law company on matters linked to blockchain and preliminary coin offerings. He got over $18,000 a month for advising that company on fintech, the grievance said.
  • Rufrano used to be released Wednesday on a $25,000 bond.

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