Doj sells cryptocurrency worth $ 56 million by Bitconnect
Doj sells cryptocurrency worth $ 56 million by Bitconnect
The US Justice Ministry (DOJ) sells a cryptocurrency worth $ 56 million, which was confiscated by the "promoter number one" from Bitconnect, the largest crypto fraud scheme that has ever been charged with criminal law. Investors have been fraudulent to invest over $ 2 billion. The BitConnect promoter threatens a maximum penalty of 20 years in prison.
US sale of crypto worth $ 56 million from Bitconnect's "Number One promoter" confiscated
The US Justice Ministry announced on Tuesday that it is sold to compensation for $ 56 million cryptocurrencies to compensate for the victims of the BitConnect fraud system. The Ministry of Justice stated that "the BitConnect scheme is the largest cryptocurrency fraud system that was ever charged criminal".
The US district judge Todd W. Robinson gave an application by the DOJ and the US public prosecutor for the southern district of California on Friday. has." According to the Ministry of Justice:
This liquidation is the largest individual recovery of a cryptocurrency fraud by the United States.
Glenn Arcaro, 44, from Los Angeles, on 1. September to "participate in a massive conspiracy for the fraud of Bitconnect investors in the United States and abroad, in which investors were fraudulently tempted to invest over $ 2 billion".
The government "tries to make entire victims of the BitConnect system by selling cryptocurrency and keeping the proceeds in US dollars," said the Doj. "The government will keep the confiscated revenues in cryptocurrency wallets and intends to use these funds in order to grant compensation to the victims in accordance with a future reimbursement order of the court."
Arcaro is to be convicted on January 7, 2022, the Doj stated and added that he was “threatened with a maximum penalty of 20 years in prison”.
What do you think that the Doj cryptocurrency is sold by Bitconnect's promoter? Let us know in the comment area below.
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