US SEC, DoJ halt $62M Mining Capital Coin pyramid scheme
Mining Capital Coin lured investors with promises of guaranteed returns but ended up defrauding them of over $62 million, according to U.S. federal authorities.
Mining Capital Coin lured investors with promises of guaranteed returns but ended up defrauding them of over $62 million, according to U.S. federal authorities.
If found guilty of the charges, Alejandro Cao de Benos and Christopher Emms faces up to 20 years in prison. Currently, both individuals remain at large.
The man solicited funds from several victims, promising to deliver S9 and L3 miners and offer miner-hosting services but channeled the funds to personal use, authorities said.
The U.S. attorney’s office announced that three New Hampshire citizens have pleaded guilty to wire fraud, operating using church accounts to help their “co-defendant” Ian Freeman.
Authorities from Germany and the United States have teamed up to bring down Hydra, with the DoJ bringing charges against a Russian national and sanctioning the linked Garantex exchange.
The two 20-year-old men, who were arrested in California, allegedly sold 8888 NFTs in early January before abandoning the project and vanishing with the ETH from investors.
Asa Saint Clair founded the World Sports Alliance, which he claimed was a close affiliate of the United Nations, and sold the native IGObit token to some 60 unsuspecting investors.
Sebastien Vachon-Desjardins is accused of conspiring to damage a protected computer to transmit a ransom demand intentionally, according to the U.S. Department of Justice.
Samuel Reed, along with Arthur Hayes, Benjamin Delo, and Greg Dwyer, are accused of knowingly operating a BTC trading platform that had a lax anti-money laundering program and failed to conduct basic KYC checks.
The CFTC and DOJ charged the four with defrauding investors through Empowercoin, Ecoinplus, and JetCoin, which were described as digital asset multi-level marketing scams.
Federal authorities said the two siblings marketed Ormeus Coin through roadshows and YouTube videos, falsely claiming to be backed by a mega-mining firm and mining $8 million a month.
A Michigan court has sentenced the three leaders of the so-called Geek Group to prison time and $200,000 in BTC and USD in connection with their money laundering BTC business.