<ul data-eligibleForWebStory="false"><li>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.</li><li>The fraudulent scheme claimed 300% returns in 16 months through crypto investment packages, deceiving thousands worldwide since 2019.</li><li>The defendants used lavish events and luxury displays globally to attract investors, projecting a false image of success and legitimacy.</li><li>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.</li></ul>

US Charges Two Men in $650M OmegaPro Crypto Scam

Discover more