The United States authorities more precisely, the Department of Justice (DoJ) in joint force with Secret Service (USSS), have seized more than $6 million in Crypto assets for a Ponzi scheme dubbed "banana fund".
All actions to pursue the case were filled on Wednesday, and the complaint presented for the forfeiture of the crypto funds. The DoJ seizure will grant that victims of the ponzi scheme can have their assets back after proving that they have investment with the " banana fund" and the Administration of this scam can be prosecuted.
After an investigation by the U.S Secret Service (USSS) with uncovered that the manager of the fraudulent business used the investments made by creditors to own purpose, eventually trading in Crypto and to purchase a Home, it was time to stop it an take immediate measures with led to seizure of more than $6 million in assets, 482 in Bitcoins and 1,721.828 USDT.
Another red flag to the scam business, was the accounts registering location, which was a residential home address in Spain, meaning that all accounts created on the "banana fund" was hosted in Toledo, Spain.
The U.S authorities believe that the ponzi scheme was intended to impersonate victims making them invest on it, and the investigation concludes that the fraudulent business violate the U.S law ans was trying to commit wire fraud of communications the seized assets will be returned to legit owners.
At least the victims of this "fund" will have opportunity to regain back their assets from scammers, which is a great thing, am pleasured to see the U.S Secret Service and the Department of Justice working hard to apprehend Cryptocurrency assets that have stolen from victims and plan to give them back.
Oblivious it will be a sign that in U.S the authorities are working to put scammers, wire fraudsters, hackers and anyone who commit intentional access in another persons Crypto on Jail. This is an interesting development!
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Wow this is huge, I just dont know why crypto is always a case study for fraud