New York Resident Indicted for Crypto Scam, Charged With Wire Fraud
Joeri Cant's original article for cointelegraph.com reduced by 78%
The Office of United States Immigration and Customs Enforcement's Homeland Security Investigations and prosecutors for the Southern District of New York have indicted a man for allegedly participating in a cryptocurrency scheme dubbed Igobit. According to an announcement on Nov. 6, Asa Saint Clair was charged with one count of wire fraud, which carries a maximum sentence of 20 years in prison if convicted.
Used clients funds for dinners at Manhattan restaurantsThe document states that, from 2017 through September 2019, Saint Clair solicited investors to be part of Igobit by World Sports Alliance, a purported intergovernmental organization focused on promoting international development through sports, while falsely promising them guaranteed returns and ownership interests in the organization. Allegedly, Saint Clair did not dedicate any of the investor funds to Igobit, instead, he used them to pay for his personal expenses, such as dinners at Manhattan restaurants, airline tickets and online shopping. "Saint Claire allegedly touted his company as promoting the values of sports and peace for a better world, yet defrauded all those who invested in his sham company.
As alleged, Saint Claire used the money he earned through deceit to fund a lavish lifestyle for him and his family. Through the HSI New York El Dorado Task Force and its strong partnerships, Saint Claire will face time for his actions, and it won't be in the luxury or comfort he has grown accustomed to." US charges man who stole computer power to mine $5 millionIn October, U.S prosecutors indicted a man from Singapore for using stolen identities to illegally utilize Amazon Web Services' cloud computing power for crypto mining. The prosecutors further claimed that the man used illegally accessed virtual machines to mine cryptocurrencies such as Bitcoin, Litecoin and Ethereum to amass a total of $5 million.
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