Terrible crypto trader gets 42 months for fraud, claiming he was a total gun
Jeremy Spence aka “Coin Signals” scammed around $5 million from 170 investors who were unaware their crypto was used to fund a Ponzi scheme. A crypto trader who defrauded over 170 people was sentenced to 42 months in prison on May 11 for operating a series of cryptocurrency funds claiming to make big returns but in reality were losing money and instead operated as a Ponzi scheme.The DOJ said that 25 year old Jeremy Spence had solicited millions through false representations, “including that Spence’s crypto trading had been extremely profitable when, in fact, Spence’s trading had been....
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Bitcoin-Trader.biz has disappeared overnight with the only communication being a letter sent out to all of their victims claiming that a hacker stole all of their funds and that they offered to comply with the hacker's ransom notice. Bitcoin-Trader closed all of their social media accounts as well as their website almost overnight, while ducking under the cover of playing the victim of a hacker and claiming to file for bankruptcy. The letter sent to all former account holders reads like an emotionless story of cop-outs to the effect of, "We got hacked, and we'll file for bankruptcy. Ciao!"....
A trader on Localbitcoins and Paxful has pleaded guilty to charges in connection with a couple of bitcoin scams. The U.S. Department of Justice alleges that the trader knowingly sold bitcoin to victims of fraudulent schemes. Bitcoin Trader Facing Jail Time The U.S. Department of Justice (DOJ) announced last week that a Boston man has pleaded guilty in federal court to his role in two bitcoin fraud schemes. Austin Nedved “pleaded guilty to aiding and abetting wire fraud and money laundering conspiracy,” the DOJ detailed, adding that the 29-year-old is currently “in custody....
A cryptocurrency trader based in China's Hunan province is bringing a lawsuit against cryptocurrency exchange OKCoin. According to court documents, the trader deposited the cryptocurrency litecoin in an account at the exchange, only to wake up the next day to find the funds traded without his notice. The filing asserts that the trader believes he was the subject of a successful hack, and that representatives of OKCoin should bear responsibility. He further claimed that the IP address used to execute the trade was based in Hong Kong. In total, the trader estimates his total loss at $2,900.....
Sandile Shezi, the young South African bitcoin trader who is facing fraud charges, has denied allegations he scammed shareholders in his Global Forex Institute. Shezi: Shareholders Signed Up for Education, Not Investments Despite his rejection of the allegations, a spokesperson for the country’s police told the Sunday Times newspaper that Shezi has agreed to turn himself in. As reported by Bitcoin.com News, a warrant for Shezi’s arrest had been issued after two aggrieved investors reported the bitcoin trader to the South African police. Now, as he contemplates turning....
Reports from South Africa say the country’s police have now issued a warrant for the arrest of Sandile Shezi, a 29-year-old cryptocurrency trader. The warrant was issued after one Allan Ledwaba, an investor with Shezi’s Global Forex Institute, accused the cryptocurrency trader of swindling him out of more than $33,000 (R500,000). Using Supercars to Woo Victims According to a report by City Press, Ledwaba’s interactions with Shezi began soon after he attended one of the latter’s seminars where attendees were taught forex trading. Ledwaba alleges that he was shown....