The convict apparently solicited investors into buying shares by promising them that they would receive completely unrealistic returns for their investments. He claimed that he was selling gold-based investment derivatives for “great” profit returns. He actually promised a whopping 97% returns of funds if his gold scheme didn’t work out. This way he managed to defraud some 3500 people from 46 different countries.
Of course, most of the investments were in Bitcoin. He didn’t invest the money anywhere, he just spent them on luxuries for himself, including a racehorse.
It's amazing how greed blinds people so much they fall for such obvious lies.