Representative of the crypto project “IGObit” convicted of organizing a cryptocurrency scam
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Answer Representative of the crypto project “IGObit” convicted of organizing a cryptocurrency scam
The US Attorney for the Southern District of New York announced Friday that he has indicted Asa St. Clair after a week-long trial over a fraud scheme and crypto scheme that defrauded more than 60 victims.
According for press release Published by the US Department of Justice, St. Clair defrauded victims by providing loans to his fraudulent company, IGObit, in exchange for cryptocurrency with the same name “IGObit”.
He told the investors that the “IGObit” project has a close partnership with the United Nations, and of course this is not true, as he promised them to obtain guaranteed returns on their investments.
Instead, he used the money he received for his personal expenses.
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According to the US Department of Justice statement:
Now, a jury has discovered, St. Clair uses lies to defraud ordinary people and get their hard-earned money by promising them guaranteed returns if they invest in IGObit, a digital currency that the fraudster has told is developing.
St Clair described his project as working closely with the United Nations to promote the values of sport and peace for a better world, while in fact only promoting the balance of his bank accounts.
The charges against the fraudster “Saint Clair”:
Claire was convicted of fraud and violation of United States Code, Section 1343, from about November 2017 to about September 2019.
Claire explained to the investors that the money they invested in IGObit would be used to develop IGObit, when in fact, he transferred this money to other entities controlled by him and his family members, as well as to pay for personal expenses such as dining in Manhattan restaurants. Travel abroad and make online purchases.
The US Securities and Exchange Commission recently announced that it has charged John Atena (Tina) Barksdale with defrauding thousands of retail investors and obtaining more than $124 million through two fraudulent unregistered securities offerings.
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Evidence from the above news that it is necessary to investigate before investing in any project, whatever its name, or the promises it offers, or the announced partnerships.
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