Three Men Charged in $100 Million Cryptocurrency Fraud: DOJ charged defendants in connection with a global cryptocurrency-based fraud that generated around $100 million in revenues from investors.

July 12, 2022: 

Government alleges defendants misled investors about, among other things, a purported proprietary trading “bot” that they claimed could generate guaranteed returns to investors. Defendants "then laundered investors’ funds through a foreign-based cryptocurrency exchange, and paid out early EmpiresX investors with money obtained from later investors in a Ponzi-style scheme." DOJ Link

“This case should serve as a warning to any individuals who look to illegally capitalize on the perceived ambiguity of the crypto market to take advantage of innocent investors” said HSI Miami Special Agent in Charge Anthony Salisbury.