The founder of 'My Big Coin' has been convicted in a fraudulent scheme that swindled $6 million from cryptocurrency investors. crypto
A federal jury has convicted the founder of “My Big Coin” in a fraudulent scheme that swindled $6 million from cryptocurrency investors. The defendant made several false claims, including that the coins were backed by gold and that the company had a partnership with Mastercard.The U.S. Department of Justice announced Thursday that the founder of My Big Coin Pay Inc. , Randall Crater, has been convicted in a cryptocurrency fraud scheme.
Eric Shen, the inspector in charge of the U.S. Postal Inspection Service’s Criminal Investigations Group who worked on the case, commented: The defendant spent the fraudulently obtained funds on “luxury items for himself, including artwork, antiques, and jewelry,” the DOJ said.
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