Sports star indicted in $800,000 bitcoin fraud case
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Answer Sports star indicted in $800,000 bitcoin fraud case
In a dramatic shift between jobs, former NBA star Isaac Austin has been charged with defrauding a Ghanaian company of approximately $1 million through a fraudulent scheme.
According to GhanaWeb, the former basketball player lured victims to invest their cryptocurrency in a cryptocurrency trading program run by his company Isaac Edward Austin and the Tudor Trust.
When you look at Isaac Austin’s LinkedIn page, he appears as a trustee for the company in question.
While on his Twitter account, he does not show much, as the privacy is enabled on tweets, photos and other data.
The Ghana-based company that was scammed was not named in the report.
However, it did tell that 75 bitcoins were transferred to Austin as early as 2019
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Under the agreement between the two parties, Austin is required to return the amount he received along with interest and an estimate of one bitcoin in the amount of $11,000, or a total of $825,000, by July 3, 2019.
The date arrives and expires and the Ghanaian company does not receive its agreed amount.
Where I told The victim company that the former NBA player resorted to making excuses whenever payment requests were made.
Some analysts have told the whole operation as a scam and report that:
He will take your bitcoin and you will never get your investment or your returns.
On payday he will tell you story after story full of lies that all of them are unable to deliver on payday.
Among the arguments used are that the coin was sent to the wrong wallet, that there is pressure in the network, that he is completing trades, and other flimsy arguments.
Thus, the African company lost more than half a million dollars and pledged to take all legal measures against the former NBA star, and told:
If payment is not made within the next 48 hours we reserve the right to take any necessary legal action for a full refund without further notice to you.
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