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Fraudster involved with Bitclub ponzi scheme plead guilty on a scam of $722 millions!

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Written by   792
1 year ago

Bitclub ponzi scheme have been on business for years on internet and during their time in operation have defrauded billions in dollars for many people in the world, was a pyramid scheme who lure people to invest in their Crypto mining scams with promises to earn more if they bring more investors to do the same.

The Man, who is a Romanian national, living in Germany where he was arrested, pleaded guilty to defraud $722 millions and have been accused for several crimes such as, conspiracy to commit wire fraud, also to offer and sell unregistered securities, all his trial was conducted via videoconference direct from an U.S court district.

one more scammer behind bars!

Now the criminal charges may lead him to be condemned to five years in jail and to pay fine of $250,000 and the sentence will be announced in a later date.

This isn't the first time the Department of Justice from United States deal with the Bitclub Network scam, December of last year (3) men was charged with the same crimes.

Bitclub network was a huge scheme implanted and spreaded all over the world, involved Crypto mining with promises of double earning when more people was got invited to participate on the scheme, lot of investors lost money to the scam and Bitclub founders dumped the business and run away from it, leaving people with loses of billions of dollars!

this is the place where criminals go when steal money from innocent people, jail for them!

I am glad that at least 4 of them are now facing sentences and are in custody of the U.S authorities, I believe more scam business and founders will be prosecuted and will have to pay for their crimes in jail.

Better to have them arrested than seeing them escape with peoples funds.

Stay away from scammers, always be protected from fraudsters, take care.

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Written by   792
1 year ago
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Comments

I've heard about this in my country. Gosh there are a lot of my fellowmen who are so hopeful in this ponzi scheme. This people didn't even think that no one will be Millionier overnight. They jump in because of the promise return. How sad they are blind to see the real motives of this. People behind thisnkind of Ponzi. Now we have this Airbit club. .

I don't know if this Airbit club is still running of not.

$ 0.00
1 year ago

Many will be jailed from now on, the authorities have been conducting cross border investigation to find out runners who defrauded peoples money of course many will run but the few who got caught will be good to see them on jail🙌

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1 year ago

Yes. And it's sad to say that law is taking action slowly.

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1 year ago

In some cases it's difficult to track down criminals but I am glad that there are doing something about!

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1 year ago

Awesome they must arrest this criminals.

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1 year ago

722 million $??! Wow! The amount is extremely huge! What can their sentences be? Lifetime sentences maybe?

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1 year ago

Unfortunately those cases are just for 5 years jail and fine of some thousands in dollars!

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1 year ago

LOL WHAT? 722 million $ which is a big amount not for few people but even for a whole poor country! and only 5 years in jail with few thousands dollars in fines? Well that's surely a ridiculous law!

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1 year ago

That is one thing that increase those kind of crimes they are two softs in laws!

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1 year ago