Three men who allegedly involved in a Bitcoin scamming case has been sent to prison in China for running a fake Bitcoin mining machines deal at 10,000 Yuan (US$1,500). Ms Ning Hai Cui then commented, “The instructor will provide profit orders in the group every day, and issue instructions to let us investors follow him to buy up and sell. Many people often make profit screenshots in the group.”
The couple Mike and Karen Taylor said to have decided to invest their pension amount in crypto investment scheme through a website, to their shock after investing about $633,000 ($900,000 AUD) the schemers have vanished. Mike Taylor as retired bus driver said, “That was the whole of our superannuation – that’s now gone”. He is also decided to return to work, and he plans to sell his 1965 Pontiac to make some money.
Seven Venezuelans has filed a lawsuit with a Florida Federal Court to seek justice as they have been lured into Ponzi scheme involving $30 million in cryptocurrency promoted by Canadian investment radio host Harold Seigel. The Ponzi scheme conducted by companies Eagle Financial Diamond Group Inc and Argyle Coin where they cheated investors by claiming that their cryptocurrency is pegged to diamond.
The Special Antitrust Unit in Verona, Italy has seized around 93 social pages and 7 websites which the fraudsters have used for their canvas users to their training courses on financial topics which is priced minimum of €100. Meanwhile, Konstantin Ignatov, the CEO of the OneCoin digital currency fraud is going to undergo a court trial while he is still behind bars & Bank of Uganda (BoU) earlier had issued warning on OneCoin as ponzi scheme.
United States District Judge Sandra J. Feuerstein has ruled that 44 year old Blake Kantor to the 86-month prison sentence with as forfeiture of $1.5 million stolen proceeds and restitution of victims of his Blue Bit Banc (BBB) scam investment company, in which he used a computer program to fake the price data in order to skew the payout scheme in his company’s favor.
A 46-year-old New York resident Patrick McDonnell the head of Staten Island-based CabbageTech, which operated the bitcoin trading firm Coin Drop Markets (CDM) admitted he stole funds obtained from his clients instead of investing them in cryptocurrency. McDonnell attracted investors to his firm CabbageTech by claiming on social media and cheated over thousand clients.
Brenton Harrison Tarrant, the suspected New Zealand shooter has been claiming he invested in a cryptocurrency called BitConnect but his identity as a young, uneducated man fluent in internet culture meant he was the ideal mark for an online get-rich-quick scheme. Some crypto watchers identified BitConnect as a scam almost from its start, but the company folded only after US state regulators served it with cease and desist letters.
A unidentified person has been arrested by Russian cops, who has international arrest warrant for international arrest warrant. Ministry of Internal Affairs (MOI) officially declared the arrest and is in process of extradition from Kazakhstan. The accused has fled Kazakhstan in early 2019 and has since been declared wanted by Interpol and has at least 300 fraud cases in connection with pyramid scheme.
Daniel Pacheco, 45 of California is facing charges from the U.S. Securities and Exchange Commission (SEC) for allegedly selling unregistered securities and masterminding multi million dollar crypto pyramid scheme. He duped his investors through his IPro Solutions LLC and IPro Network LLC based in California by offering e-commerce lessons and IPro’s own ‘cryptocurrency’, Pro Currency.
The Australian Securities and Investments Commission (ASIC, financial regulator for the island nation) has recently issued a warning to its public on alleged crypto-related scam project. The warning mentions two names, Dartalon Ltd and GFC Investments which have been red flagged by the regulator, both of their websites offers the public a chance to trade various cryptocurrencies and foreign exchange (forex).