Labour MP found not guilty of housing fraud
A Labour MP has been found not guilty of housing fraud.
Apsana Begum, MP for Poplar and Limehouse, was cleared of three charges of dishonestly failing to disclose information relating to her Tower Hamlets council housing application by a jury at Snaresbrook Crown Court.
The 31-year-old collapsed and wept in the dock as the verdicts were announced.
Issuing a statement afterwards, Ms Begum said the trial had caused her “great distress”.
Tower Hamlets Council brought the prosecution, alleging that the cost to the council was £63,928, because someone else on the housing list had to be given accommodation elsewhere.
Ms Begum, who sits on the House of Commons’ education committee, was elected to parliament with a 28,904 majority at the 2019 general election.
The court heard during the trial that the Labour MP has applied to go on Tower Hamlets Council’s social housing register on 22 July 2011 and was placed on the priority housing list after claiming to be living in an “overcrowded” three-bedroom property in Poplar with five members of her family.
The prosecution argued, based on both a housing application made by Ms Begum’s aunt in 2009 and a council tax form submitted by her mother in 2013, that the property actually had four bedrooms.
Prosecutor James Marsland said Ms Begum has deliberately lied about the number of bedrooms in the house in order to move herself higher up the council register.
He added that the Labour MP had failed to disclose that there were only four people living at the address by January 2014 after her father died and her aunt moved out of the property.
But Ms Begum repeatedly claimed there had only ever been three bedrooms in the house and that she had never had her own bedroom.
Tower Hamlets Council brought the proceedings against Apsana Begum
She added that the events occurred during a period of hardship in her life following her father’s passing and her Bangladeshi-heritage family’s disapproval of her relationship with her then-partner, Tower Hamlets councillor Ehtasham Haque.
The Labour MP’s defence lawyer, Helen Law, claimed a complaint made in 2019 by Mr Haque’s brother-in-law Sayed Nahid Uddin – which triggered the investigation into Ms Begum’s conduct – was “false”.
During the trial, the court heard that Ms Begum left the house in May 2013 due to her family’s hostility towards her desire to marry Mr Haque who was seven years her senior and twice divorced.
Ms Begum said she feared becoming the victim of honour-based violence and had reported her brother to the police after he followed her to work.
The Labour MP told the court her brother locked her in the living room in the same day when she returned home and that he had told her to visit an imam believing she was “possessed”.
Ms Begum said she rang 999 and fled the property with just her handbag. She collected her belongings which were in bin bags outside a few days later.
The MP for Poplar and Limehouse said she managed to call 999 and fled the house with only her handbag. Days later she was told to pick up her belongings, which had been put in black bin bags outside the house.
In a statement following the verdicts, Ms Begum thanked those who stood by her during the trial.
“This case has been driven by malicious intent and has caused me great distress and damage to my reputation,” she said.
“I would like to say a sincere thank you to all my legal team and all those who have shown me solidarity, support and kindness.
“As a survivor of domestic abuse facing these vexatious charges, the last 18 months of false accusations, online sexist, racist, and Islamophobic abuse, and threats to my safety, have been exceedingly difficult.
“I also thank the jury for vindicating me, and the judge for presiding over this trial. I will be consulting and considering how to follow up so that something like this doesn’t happen again to anyone else.
“I would now like to get on with my job of representing my constituents – opposing the negligent COVID decisions made by (Prime Minister Boris) Johnson’s reckless Tory government which has caused so many families to lose loved ones who should still be with us today and so much hardship that could have been avoided.
“My comrades and friends, in Poplar and Limehouse, and beyond, have stood by me, I have and will always stand by them.”
A Tower Hamlets spokesperson said the council accepted the jury’s verdict.
“We have a duty to investigate any allegations of housing fraud in order to ensure public money is spent correctly and that those waiting on our housing register are treated fairly,” a statement released by the council said.
“After reviewing the evidence with the benefit of independent legal advice, it was found it to be strong enough to bring the matter to court where it was agreed there was a case to answer.
“We fully accept the verdict, that justice has run its course and that the matter is now closed.”
Former Labour leader Jeremy Corbyn welcomed the verdicts.
He posted on social media: “Congratulations. Always knew you to be a woman of amazing strength and fortitude and yet again that has been proven.”
The new trade tariffs announced by US President Donald Trump may place added pressure on the Bitcoin mining ecosystem both domestically and globally, according to one industry executive.
While the US is home to Bitcoin (BTC) mining manufacturing firms such as Auradine, it’s still “not possible to make the whole supply chain, including materials, US-based,” Kristian Csepcsar, chief marketing officer at BTC mining tech provider Braiins, told Cointelegraph.
On April 2, Trump announced sweeping tariffs, imposing a 10% tariff on all countries that export to the US and introducing “reciprocal” levies targeting America’s key trading partners.
Community members have debated the potential effects of the tariffs on Bitcoin, with some saying their impact has been overstated, while others see them as a significant threat.
Tariffs compound existing mining challenges
Csepcsar said the mining industry is already experiencing tough times, pointing to key indicators like the BTC hashprice.
Hashprice — a measure of a miner’s daily revenue per unit of hash power spent to mine BTC blocks — has been on the decline since 2022 and dropped to all-time lows of $50 for the first time in 2024.
According to data from Bitbo, the BTC hashprice was still hovering around all-time low levels of $53 on March 30.
Bitcoin hashprice since late 2013. Source: Bitbo
“Hashprice is the key metric miners follow to understand their bottom line. It is how many dollars one terahash makes a day. A key profitability metric, and it is at all-time lows, ever,” Csepcsar said.
He added that mining equipment tariffs were already increasing under the Biden administration in 2024, and cited comments from Summer Meng, general manager at Chinese crypto mining supplier Bitmars.
Source: Summer Meng
“But they keep getting stricter under Trump,” Csepcsar added, referring to companies such as the China-based Bitmain — the world’s largest ASIC manufacturer — which is subject to the new tariffs.
Trump’s latest measures include a 34% additional tariff on top of an existing 20% levy for Chinese mining imports. In response, China reportedly imposed its own retaliatory tariffs on April 4.
BTC mining firms to “lose in the short term”
Csepcsar also noted that cutting-edge chips for crypto mining are currently massively produced in countries like Taiwan and South Korea, which were hit by new 32% and 25% tariffs, respectively.
“It will take a decade for the US to catch up with cutting-edge chip manufacturing. So again, companies, including American ones, lose in the short term,” he said.
Source: jmhorp
Csepcsar also observed that some countries in the Commonwealth of Independent States region, including Russia and Kazakhstan, have been beefing up mining efforts and could potentially overtake the US in hashrate dominance.
Related: Bitcoin mining using coal energy down 43% since 2011 — Report
“If we continue to see trade war, these regions with low tariffs and more favorable mining conditions can see a major boom,” Csepcsar warned.
As the newly announced tariffs potentially hurt Bitcoin mining both globally and in the US, it may become more difficult for Trump to keep his promise of making the US the global mining leader.
Trump’s stance on crypto has shifted multiple times over the years. As his administration embraces a more pro-crypto agenda, it remains to be seen how the latest economic policies will impact his long-term strategy for digital assets.
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Cryptocurrency exchange OKX is under renewed regulatory scrutiny in Europe after Maltese authorities issued a major fine for violations of Anti-Money Laundering (AML) laws.
Malta’s Financial Intelligence Analysis Unit (FIAU) fined Okcoin Europe — OKX’s Europe-based subsidiary — 1.1 million euros ($1.2 million) after detecting multiple AML failures on the platform in the past, the authority announced on April 3.
While admitting that OKX has significantly improved its AML policies in the past 18 months, the authority “could not ignore” its past compliance failures from 2023, “some of which were deemed to be serious and systematic,” the FIAU notice said.
OKX was among the first crypto exchanges to receive a license under Europe’s new Markets in Crypto-Assets (MiCA) regulation via its Malta hub in January 2025.
The news of the $1.2 million penalty in Malta came after Bloomberg in March reported that European Union regulators were probing OKX for laundering $100 million in funds from the Bybit hack.
Bybit CEO Ben Zhou previously claimed that OKX’s Web3 proxy allowed hackers to launder about $100 million, or 40,233 Ether (ETH), from the $1.5 billion hack that occurred in February.
This is a developing story, and further information will be added as it becomes available.
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Authorities in the US state of Massachusetts continue targeting unlawful cryptocurrency market practices, with a local court fining crypto financial services firm CLS Global.
A federal court in Boston on April 2 sentenced CLS Global on criminal charges related to fraudulent manipulation of crypto trading volume, according to an announcement from the Massachusetts US Attorney’s Office.
In addition to a $428,059 fine, the court prohibited CLS Global from offering services in the US for a probation period of three years.
CLS Global, a crypto market maker registered in the United Arab Emirates, in January pleaded guilty to one count of conspiracy to commit market manipulation and one count of wire fraud.
CLS agreed to manipulate the FBI’s “trap token” NexFundAI
The charges against CLS Global followed an undercover law enforcement operation involving NexFundAI, a token created by the FBI as part of a sting operation in May 2024.
CLS Global was among at least three firms that took the FBI’s bait and agreed to provide “market maker services” for NexFundAI, including a fraudulent scheme to attract investors to purchase the token.
In October 2024, the Securities and Exchange Commission announced fraud charges against CLS and its employee, Andrey Zhorzhes. The US securities regulator also filed complaints against two other NexFundAI manipulators, Hong Kong-linked ZM Quant Investment and Russia-linked Gotbit Consulting.
CLS Global’s profile
According to CLS Global CEO Filipp Veselov, the company was founded in 2017 to fill in a “huge gap in the market for high-quality market-making solutions and trading consulting.”
Prior to CLS, Veselov worked at the Russian cryptocurrency exchange platform Latoken, which is advertised as a “global digital asset exchange” and has about 370,000 followers on X.
The CLS team also includes chief revenue officer Pavel Singaevskii, who previously served as sales manager at Stex, a crypto platform that reportedly ceased operations without warning in 2023.
Source: CLS Global
According to CLS Global’s X page, the platform continues operating and has more than 110,000 followers at the time of publication.
How much wash trading is in crypto?
Wash trading is an illegal practice involving artificially inflating trading volume by repeatedly buying and selling the same asset, generating a misleading perception of demand.
According to a January 2025 report by the US blockchain analytics firm Chainalysis, the crypto market has at least $2.6 billion in estimated wash traded volumes, or just about 2% of total daily crypto trading volumes, as reported by CoinGecko.
Estimated wash trade volume in crypto. Source: Chainalysis
Related: Russian Gotbit founder strikes $23M plea deal with US prosecutors
Some studies indicate that wash trading makes up a bigger share of the crypto market.
In 2022, the US National Bureau of Economic Research reported that illegal wash trading may account for as much as 70% of average trading volumes on unregulated exchanges.
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