An international cryptocurrency bank has been hit with a securities fraud class action lawsuit in a federal district court in New York after the CEO of its parent company allegedly siphoned customer deposits and misled investors, leading to hundreds of millions of dollars in investor losses.

Jeffrey W. Gutchess, a partner at AXS Law Group in its Miami and Los Angeles offices, is the lead attorney for the plaintiff, AMJ Global Entertainment LLC. The defendants include Migom Global Corp., a U.S. publicly traded company; Migom Bank Ltd., its subsidiary; and Thomas Schaetti, its largest shareholder and CEO.

Jeffrey W. Gutchess. Jeffrey W. Gutchess.