Former Digitex Futures Exchange CEO Pleads Guilty to Violati...

Founder and former CEO of Digitex Futures Exchange, Adam Todd, has pleaded guilty to willingly leading the firm to fail to establish an Anti-Money Laundering (AML) program. Notably, the former CEO's plea was issued in a federal court in the Southern District of Florida on May 7. Former Digitex CEO Pleads Guilty The U.S. Attorney's Office stated that Todd pleaded guilty to "willfully causing" Digitex to violate the Bank Secrecy Act. Indicted earlier this year, Todd was accused of overseeing an unregistered futures platform targeting U.S. customers from 2018 to 2022, allegedly neglecting vital Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols. In 2020, Todd announced that there would be "no KYC identity verification requirements of any kind" following a data breach at Digitex. It was reported that a former exchange employee stole information from user's passports and d...