An indictment was unsealed charging the former CEO of a bitcoin mining form with bribery violations and his company entered into a deferred prosecution agreement with the Justice Department.
The November 18 indictment charges Zhengming Pan, former CEO of 500.com (now BIT Mining Ltd.), a Chinese national, with multiple violations of the Foreign Corrupt Practices Act (FCPA).
Simultaneously, BIT Mining Ltd. has agreed to resolve investigations by the U.S. Department of Justice and the Securities and Exchange Commission (SEC) concerning related FCPA violations, involving bribery of Japanese officials.
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