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BIT Mining settles US bribery probe as former chief executive faces indictment

By Samuel Rubenfeld ( November 18, 2024, 23:42 GMT | Insight) -- Zhengming Pan, the former chief executive of BIT Mining who resigned from the company in early 2020, was charged with multiple counts of violating the US Foreign Corrupt Practices Act, as well as conspiracy, prosecutors said today, as they announced that the company has settled with US authorities .BIT Mining entered into a deferred-prosecution agreement with the US Justice Department and settled with the US Securities and Exchange Commission, agreeing to pay a $10 million fine, of which $4 million will be satisfied by the SEC’s civil penalty. The former chief executive of BIT Mining, a cryptocurrency firm, was charged with directing his company – operating under a prior name – to pay more than $2 million in bribes to Japanese officials in a failed bid to open a casino and resort....

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