‘Coin Signals’ Trader Arrested on $5M Crypto Fund Fraud Charges
24-year-old Jeremy Spence bilked his investors of $5 million, according to a criminal complaint.
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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....
Arrested by the FBI earlier today, 24-year-old Spence also faces civil charges of fraud that look to bar him from future trading. For Jeremy Spence, also known as "Coin Signals," the news just gets worse.The Commodity Futures Trading Commission has unveiled civil fraud charges against Spence for his investment scheme, which allegedly suckered investors out of over $5 million worth of Bitcoin (BTC) based on false or misleading statements.As Cointelegraph reported, the Department of Justice arrested Spence earlier today on charges of wire fraud and commodities fraud that have maximum....
It is not the first time Digital Bitcoin Company chairman Ho gets into troubled waters with law enforcement, as he falsely claimed Bitcoin investors wanted to buy cryptocurrency at a premium price. Bitcoin has attracted the attention of law enforcement agencies all over the world in recent years, yet some people still use cryptocurrency as a way to commit fraud. The chairman of Digital Bitcoin Company was arrested on fraud charges and handed over to the Criminal Investigation Bureau of Taiwan. Trouble Looms Over Bitcoin Trader, Things have gone awry for Digital Bitcoin Company earlier....
The trader was both lying to investors and using an unregistered derivatives strategy on BitMEX. United States authorities have brought criminal charges against a crypto trader whom they say defrauded investors out of over $5 million. The Department of Justice announced on Tuesday that it had arrested Jeremy Spence. Between 2017 and 2019, 24-year-old Spence operated a crypto investment scheme under the name "Coin Signals," primarily via Twitter and Discord.The announcement quoted Federal Bureau of Investigation Assistant Director-in-Charge William Sweeney as saying: “As alleged, Jeremy....
A 36-year-old man from Kerala was arrested under charges of cryptocurrency fraud. District police have arrested a 36-year-old man from the Malappuram district of the south Indian state of Kerala on charges of operating a cryptocurrency scam.Nishad has been charged under the Prize Chits and Money Circulation Schemes (Banning) Act by the district police chief U Abdul Karim.A team led by police inspector P Vishnu seized several documents from Nishad’s house and alleged that he has duped thousands of people from across India of hundreds of thousands of dollars. Nishad, who is also the managing....