The Washington State Department of Financial Institutions (DFI) issued a consumer alert on Tuesday, stating that it has received a complaint regarding possible fraudulent activities by a cryptocurrency trading platform named BIB. An investor reported that after transferring 20,000 USDT to BIB following advice from individuals named Austin Johnson and Cindy Turner, he was unable […]
The founder of cryptocurrency project Clucoin has pled guilty to wire fraud, admitting to diverting $ 1.14 million in investor funds for personal use, including gambling. Despite promoting the cryptocurrency for charitable causes, Taylor used his social media influence to attract investments, which he then misappropriated. He faces up to 20 years in prison. …
Roman Ziemian, co-founder of the cryptocurrency platform Futurenet, was arrested in Montenegro for allegedly orchestrating a $ 21 million cryptocurrency fraud scheme. The arrest was part of an international law enforcement operation involving Montenegrin authorities and Interpol. Ziemian, who was living under a false identity in Podgorica, now faces potential extradition to either Poland …
The former CEO of failed Heartland Tri-State Bank was sentenced to over 24 years in prison for embezzling more than $ 47 million in a fraudulent crypto scheme that caused the bank’s collapse. He funneled the stolen funds into cryptocurrency wallets linked to a “pig butchering” scam, leading to a $ 9 million …
The New Hampshire Bureau of Securities Regulation has issued a cease and desist order against Finstate Investment LLC, accusing it of defrauding investors via a fraudulent cryptocurrency investment website. Finstate allegedly misrepresented account activity and offered illegal guarantees against losses. A retired New Hampshire resident, persuaded via Facebook to invest $ 3,526 in cryptocurrency …