Another Crypto Scam: Former Party Producer Charged In $2.7 Million ‘Cash-To-B...
A New York man was charged Friday with operating a crypto money laundering scam that he publicly promoted on social media, bragging to clients he could help them stay “totally off the radar.” The individual, a former party organizer, was charged by the Manhattan District Attorney with laundering $2.7 million in bitcoin and cash to […]
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A federal grand jury in San Diego charged the founder of a cryptocurrency startup Friday in a broad indictment that claims he cheated investors of more than $2.4 billion in a Ponzi scam. Prosecutors say the fraud is the largest of its sort ever prosecuted criminally. Satish Kumbhani, 36, of Hemal in Gujarat, India, swindled […]
A cryptocurrency entrepreneur and his sister have been charged by US officials with crypto scam on Wednesday, accusing them of defrauding retail investors of millions of dollars using a bogus cryptocurrency. The US Securities and Exchange Commission alleges in a statement Wednesday that John and JonAtina Barksdale scammed thousands of investors with Ormeus Coin. According […]
The US Department of Justice charged Mining Capital Coin’s senior executive officer with conspiracy to commit a $62 million crypto investment scam. According to the DOJ complaint, Luiz Capuci and unnamed co-conspirators deceived investors over the profit-generating potential of MCC mining packages and a native token called Capital Coin, which was backed by the “largest […]
The mastermind of what the U.S. Department of Justice calls a scam of “epic proportions” has been sentenced to 10 years in prison. His crypto scheme collected over $147 million, duping 72,000 investors. He is also ordered to pay the U.S. Internal Revenue Service more than $1.8 million for tax evasion. Scam Involving Fake Cryptocurrency The U.S. Department of Justice (DOJ) announced Monday that a California man, Steve Chen, has been sentenced to 10 years in federal prison for his “leading role” in a major crypto fraud case. Judge John Walter called Chen’s....
The United States Department of Justice (DOJ) says it has seized cryptocurrencies worth $24 million after receiving an official request from the government of Brazil. The seizure stems from an ongoing investigation into the $200 million cryptocurrency scam that may have defrauded tens of thousands of Brazilians. The authorities in Brazil say the scammers duped people by typically promising exaggerated returns and falsifying where the funds were invested. Criminal violations In a statement, the DOJ says the U.S. acceded to Brazil’s request in line with the cooperation treaty signed....