ICO fraudster pleads guilty to $7m Covid-relief loan scam
An ICO fraudster spent more than $7 million in fraudulently obtained covid relief on luxury personal expenses, including a Rolex, a luxury apartment, and a new Mercedes. A 24-year-old New York resident has pleaded guilty to acquiring more than $7 million in Covid-19 relief through fraudulent loan applications and misleading investors in a fraudulent initial coin offering during 2018.According to an April 20 announcement from the U.S. Department of Justice, Taiwanese national, Justin Cheng — also known as “Justin Jung” — Cheng submitted a series of online loan applications accompanied by....
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Titanium Blockchain Infrastructure Services (TBIS) has pled guilty to a securities fraud of over $21 million crypto scam. The US Department of Justice had announced that Michael Alan Stollery, CEO and Founder of Titanium Blockchain has declared himself guilty of the $21 million initial coin offering (ICO) scam. Michael, who is from California had accepted […]
The founder and manager of several cryptocurrency funds has pleaded guilty to luring investors to his crypto investment scam. His funds consistently lost money and his scam left investors with a $5 million loss, according to the U.S. Department of Justice (DOJ). Investors Scammed Into Investing in Coin Signals’ Funds The U.S. Department of Justice (DOJ) announced Tuesday that Jeremy Spence (aka Coin Signals) has pleaded guilty in a fraudulent cryptocurrency investment scheme. Spence “solicited over $5 million from more than 170 individual investors for various cryptocurrency....
A Nevada man has admitted his role in laundering funds solicited for the Bitclub Network, a $722 million fraudulent cryptocurrency scheme. He also pleaded guilty to tax offenses.
Bitclub Network Investor Pleads Guilty
The U.S. Department of Justice (DOJ) announced Thursday that Gordon Brad Beckstead, a 57-year-old from Henderson, Nevada, has pleaded guilty in connection with the Bitclub Network fraud. The announcement details:
A Nevada man today admitted his role in laundering funds solicited for Bitclub Network, a $722 million fraudulent cryptocurrency scheme.
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A Texas man, who calls himself “Doctor Bitcoin,” has pleaded guilty to running an illegal cryptocurrency exchange business, converting cash to bitcoin. He faces five years in federal prison. Crypto Exchange Operator Pleads Guilty The U.S. Department of Justice (DOJ) announced Tuesday that a Texas resident, Mark Alexander Hopkins, has pleaded guilty to “illegally operating a cash-to-cryptocurrency conversion business.” The 42-year-old man, who calls himself “Doctor Bitcoin,” pleaded guilty to one count of operation of an unlicensed money transmitting....
Bitcoin Savings & Trust (BS&T) operator Trendon Shavers, who has allegedly been operating a bitcoin scam and Ponzi scheme, has plead not guilty during his fraud trial in a New York District court. He is charged with one count of securities fraud and one count of wire fraud. Shavers could pay millions of dollars in fines and penalties, along with facing up to 40 years in prison if convicted. This marks Shavers' second trial in securities fraud, as he was previously found guilty of securities violations in September last year when he was ordered to pay 40 million dollars in fines. Bitcoin....