A man from Arizona who has devised a Crypto Ponzi schedule of $ 13 million argued this week guilty of money laundering and conspiracy to obstruct the charges of justice.
The US Department of Justice (DOJ) says that Vincent Anthony Mazzotta Jr., 54, is divorced with his fellow suspect David Saffron and others to promise investors fraudulently with the profit of investors of crypto-investments that were effective on automatized trading robots that were driven into the drugs that were driven to be driven that were driven to the fact that).
Mazzotta Jr. Lured investors by convincing them to sink money into several crypto investment companies. When those companies disappeared with the capital of the investors, he went one step further and created a fake reasons called the Federal Crypto Reserve (FCR), who asked thousands of extra dollars from victims by pretending the same companies.
The doj says Mazzotta Jr. Justice also hindered the first arrest of Saffron by destroying evidence in the apartment of his fellow suspect, and he tried to falsify the reports of his company, Runway Beauty Inc., to hide his participation in the fraud of a federal large jury.
Bill Essayli, American lawyer for the central district of California, warns that criminals would like to use the “relative novelty” of crypto assets to hunt victims.
Mazzotta Jr. is confronted with a maximum of 10 years in prison for money laundering and five years due to conspiracy to obstruct justice.
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