Three arrested in connection to a $722 mln crypto scam

1
United States authorities have arrested three people connected to a cryptocurrency mining scam for over 722 million dollars.
The three alleged scammers - Matthew Brent Goettsche, Jobadiah Sinclair Weeks, and Joseph Frank Abel – have been charged with with conspiracy to offer and sell unregistered securities and Goettsche and Weeks are also charged with conspiracy to commit wire fraud as well.
If convicted they are facing a prison sentence of 25 years and fines between 250 000 USD and 500 000 USD.
Their scheme, called BitClub Network, has existed since mid-2014. They allegedly tricked investors into believing that they were investing into shares of cryptocurrency mining pools and were paying investors for bringing in new victims.
This scam has been going on for years and law enforcement didn't have a clue. I will never understand how that happens, doesn't anyone complain?


Re: Three arrested in connection to a $722 mln crypto scam

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mlawson71 wrote: Mon Dec 16, 2019 12:40 am United States authorities have arrested three people connected to a cryptocurrency mining scam for over 722 million dollars.
The three alleged scammers - Matthew Brent Goettsche, Jobadiah Sinclair Weeks, and Joseph Frank Abel – have been charged with with conspiracy to offer and sell unregistered securities and Goettsche and Weeks are also charged with conspiracy to commit wire fraud as well.
If convicted they are facing a prison sentence of 25 years and fines between 250 000 USD and 500 000 USD.
Their scheme, called BitClub Network, has existed since mid-2014. They allegedly tricked investors into believing that they were investing into shares of cryptocurrency mining pools and were paying investors for bringing in new victims.
This scam has been going on for years and law enforcement didn't have a clue. I will never understand how that happens, doesn't anyone complain?
man............. crypto is a sham :lmao:
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Re: Three arrested in connection to a $722 mln crypto scam

3
mlawson71 wrote: Mon Dec 16, 2019 12:40 am United States authorities have arrested three people connected to a cryptocurrency mining scam for over 722 million dollars.
The three alleged scammers - Matthew Brent Goettsche, Jobadiah Sinclair Weeks, and Joseph Frank Abel – have been charged with with conspiracy to offer and sell unregistered securities and Goettsche and Weeks are also charged with conspiracy to commit wire fraud as well.
If convicted they are facing a prison sentence of 25 years and fines between 250 000 USD and 500 000 USD.
Their scheme, called BitClub Network, has existed since mid-2014. They allegedly tricked investors into believing that they were investing into shares of cryptocurrency mining pools and were paying investors for bringing in new victims.
This scam has been going on for years and law enforcement didn't have a clue. I will never understand how that happens, doesn't anyone complain?
Ridiculous. There's just so much shady shit going on in Crypto. What's next? :lolno:
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