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Senior UK banker's son accused of $30m crypto fraud

Senior UK banker's son accused of $30m crypto fraud

The son of a senior London banker has been accused of committing a $30 million (£21.7 million) cryptocurrency fraud.

Daniel Harrison is the founder of US-based Monkey Capital LLC and Monkey Capital Inc in Singapore which raised the money for an advertised initial coin offering, according to court documents filed in a class action lawsuit.

The company has failed to distribute any tokens, however. ‘At least hundreds if not thousands of putative class members,’ lost their money, the documents claimed, adding one investor committed suicide.

‘800,000,000 of the Monkey Coins were issued to Daniel Harrison, who quickly converted them to other cryptocurrency and fiat currency . . . presently valued at $30 million,’ the plaintiffs claim.

The papers were seen by the Times, which said it was unable to reach Harrison for comment. Speaking to sector website CoinDesk, he has previously described the allegations as ‘ridiculous’.

Harrison is the son of senior figure at Deutsche Bank and Morgan Stanley, Mark Harrison, who declined to comment.

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