menu
techminis

A naukri.com initiative

google-web-stories
Home

>

Bitcoin News

>

US Charges...
source image

Livebitcoinnews

9h

read

294

img
dot

Image Credit: Livebitcoinnews

US Charges Two Men in $650M OmegaPro Crypto Scam

  • US federal prosecutors charged Michael Shannon Sims and Juan Carlos Reynoso with running a $650 million crypto-based Ponzi scheme through OmegaPro, promising investors unrealistic returns.
  • The fraudulent scheme claimed 300% returns in 16 months through crypto investment packages, deceiving thousands worldwide since 2019.
  • The defendants used lavish events and luxury displays globally to attract investors, projecting a false image of success and legitimacy.
  • Sims and Reynoso are facing charges of wire fraud and money laundering, with potential 20-year prison sentences, shedding light on risks posed by fraudulent crypto-investment programs.

Read Full Article

like

17 Likes

For uninterrupted reading, download the app