Crypto and Ponzi – Not a week goes by without us reporting a news ponzi scheme destroyed by a regulator. Gangrene of our beautiful ecosystem, many are the vigilantes who set out to attack the fraudsters and others crooks of all hairs. This week, after pinning BkCoin, American Justice has struck again. This time it’s aboutAirBit Cluba Ponzi scheme that would have embezzled millions of dollars belonging to its victims.
An international crypto scam bites the dust
The authorities of the Southern District of New York have thus announcement arresting the founders and lawyer (already pinned in a scam) of a global crypto Ponzi scheme. They allegedly defrauded millions of dollars from investors around the world. The scam, known asAirbitClub, claimed to offer high returns on cryptocurrency investments. All thanks to a automated trading program and of cloud mining.
But, in reality, she relied on a pyramid scheme which rewarded members for recruiting new investors, rather than for actual earnings. Classic shot. Authorities said the operation deceived thousands of investors in more than 100 countries. We are talking about a loot of approximately $100 million in total.
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From Ponzi to prison: a group of crooks soon behind bars
By January 2021, authorities had already charged five people, including a lawyer and a former city councilor. In question, their role in the case as well as in another Ponzi scheme which officiated in Latin America.
Closed accounts, false excuses, or even a technical problem: most of the victims were self-employed and retired. All have invested their savings in hopes of earning extra income. US Attorney Damian Williams points to the behavior of the scammers:
“Defendants cynically exploited the growing popularity of cryptocurrencies to steal millions of dollars from gullible investors, persuading them to join a purported cryptocurrency business akin to a sophisticated Ponzi scheme. »
Pablo Renato Rodriguez, Gutemberg Dos Santos, Scott Hughes, Cecilia Millan, Karina Chairez and Jackie Aguilar have therefore pleaded guilty and risk several decades in prison:
« RODRIGUEZ, 40, from Irvine, Calif., DOS SANTOS, 48, from Panama City, Panama, MILLAN, 41, from Greensboro, North Carolina, CHAIREZ, 47, from Modesto, Calif., AGUILAR, 58 , of Plano, Texas, and HUGHES, 47, of Newport Beach, Calif., pleaded guilty to wire fraud conspiracy charges, which carries a potential maximum sentence of 20 years in prison; money laundering conspiracy, which carries a potential maximum sentence of 20 years in prison; and bank fraud conspiracy, which carries a potential maximum sentence of 30 years in prison. »
This case, described as one of the most top cryptocurrency scams to have been dismantled, deserves a warning. Remember to always do exercise of caution and criticism when it comes toinvest in cryptocurrencies for’Properly avoid scams and other scams.
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