The big crypto raid of the doj | Finance times

Nobody could accuse the US Ministry of Justice to shoot thumbs.

In the last three days alone, the DoJ announced criminal complaints against no less than six defendants in four different cases because of their suspected participation in fraud in connection with cryptocurrencies. A man in Nevada was also accused, whose $ 45-million meta verse handle is said to have asked for an incredible 10,000 victims.

In the event of a conviction in all charges, the seven defendants could spend 310 years in prison. Who knows - maybe we all use Bitcoin to pay things when they are outside.

Here is a summary of the accusations of the Doj:

1. far ahead of potential years behind bars is David Saffron from Las Vegas, whose crypto investment platform Circle Society could be rather pyramid-shaped. Saffron promised investors of up to 600 percent and headed investor meetings "in luxury houses in the Hollywood Hills and elsewhere", while he traveled with a "team armed security forces to give the wrong appearance of wealth and success". Saffron used the $ 12 million that he had collected, "only" for his own personal advantage, "says the special agent responsible for the case. He threatens up to 115 years in prison.

2. Next comes Michael Alan Stollery, CEO of the Titanium Blockchain Infrastructure Services investment platform, whose initial coin offer brought in $ 21 million. The doj says that Stollery, to attract investors, "falsified tbis, placed fake testimonials on the TBIS website and alleged business relationships with the US Federal Reserve and companies such as Apple, Pfizer and Disney".

3. empiresx may not be what it seemed. The crypto investment platform operated by Emerson Pires, Flavio Goncalves and Joshua David Nicholas was a suspected snowball system. The trio is said to have taken away with $ 100 million in investor funds and might have been through if there were no traces everywhere in the annoying blockchain.

4. The Vietnamese citizen Le Anh Tuan could go under for $ 40 years because of his alleged participation in the Baller Ape NFT RUG Pull, which is said to have cost investors around $ 2.6 million. The doj accuses Tuan and his employees of having washed funds through so-called "chain-hopping"-a process in which one is processed Coin is converted into another, whereby the proceeds are moved to several blockchains using swap services to disguise the trail.

5. last but not least is the Neil Chandran living in Las Vegas, who is accused of having made 10,000 investors believe that his meta-severse company is about to be successful:

   The Ministry of Justice claims that “Chandran has prompted other people to provide various factually incorrect and misleading information, including that (a) investors in Chandran's companies would soon receive extremely high returns if one or more of these companies were bought by a group of rich buyers, (b) investor funds would be used for normal expenses to keep the company up to their purchase, and and (c) Prominent business people, including two billionaires, were involved in the purchase.

   "According to the indictment, there was no such group of buyers that were about to buy companies for the required returns. A significant part of the funds allegedly was used for other business undertakings and the personal benefits of Chandran and others, including the purchase of luxury cars and real estate; and there were no prominent billionaires in the purchase of Chandran's companies."

Only another week in Kryptoland!