Juan Tacuri, a major promoter of the cryptocurrency Ponzi scheme Forcount, later renamed Weltsys, has pleaded guilty to conspiracy to commit wire fraud in the Southern District of New York. The scheme primarily targeted Spanish-speaking communities in the U.S., and Tacuri benefited significantly, amassing millions from his fraudulent activities. Scheduled for sentencing on Sept. 24, […]
Rashawn Russell, a former investment banker, was sentenced on Thursday to 41 months in prison for a cryptocurrency fraud scheme that caused $ 1.5 million in investor losses. From November 2020 to August 2022, Russell deceived multiple victims by promising high returns from cryptocurrency investments, only to misappropriate their funds for personal use, gambling, …
Several reports have indicated that the ex-CEO and founder of Binance, Changpeng Zhao (CZ), has commenced his four-month term at a low-security federal facility in Lompoc, California. CZ Enters Low-Security Facility After Pleading Guilty to Money Laundering Charges Ex-Binance boss Changpeng Zhao (CZ) is now beginning his prison sentence after admitting guilt to charges related […]
David Kagel, a disbarred California attorney, pleaded guilty to orchestrating a cryptocurrency Ponzi scheme that defrauded victims of over $ 9.5 million. Kagel, 85, promised high returns through artificial intelligence trading bots and falsely claimed to hold $ 11 million in bitcoin to secure investments. He used his attorney position to instill trust, …
An Indian national has pleaded guilty in the U.S. to wire fraud conspiracy for stealing over $ 37 million by spoofing crypto exchange Coinbase’s website. He and his co-conspirators created a fake Coinbase Pro site to steal login credentials and two-factor authentication codes, transferring victims’ cryptocurrency to their own wallets. Guilty Plea in $ …