Bitcoin scammers arrested: $ 400,000 fine 2

Bitcoin scammers arrested: $ 400,000 fine

The mills of justice grind slowly, but they grind. This experience is lived not only in Germany, but also in the United States. United States The Commodity Futures Trading Commission (CFTC), a kind of foreign exchange regulator, has been able to crack down on two fraudsters, according to a July 10 press release. Already in September 2018, the lawsuits against Morgan Hunt and Kim Hecroft were opened. In total, they must now pay a fine of nearly $ 360,000.

The mesh

Morgan Hunt, supposedly Texan, and Kim Hecroft, from Baltimore, have cleverly combined different things. Both acted on behalf of a company. In the case of Hunt, it was Investment House Diamonds Trading, in the case of Hecroft First option tradingUnder the pretext of being experienced traders, they have encouraged individuals, via Facebook and by email, to invest in Bitcoin. According to the indictment, invested bitcoins should then be routed to forex, binary options and diamonds.

All this should happen to the benefit of investors. Hunt and Hecroft also heard that the CFTC was playing an increasingly important role as a controller in the virtual currency market. They told their customers that they should pay taxes to the CFTC before making their profits. For this, Hunt and Hecroft falsified documents which, in addition to the authorization of the Advocate General, even had the official seal of the CFTC. So the two fraudsters conceded twice.


Neither the sum captured nor the number of wounded is clear from the messages. But the CFTC warns that victims of such criminal activities may not receive money. James McDonald, CFTC Senior Officer:

Individuals should exercise caution before buying or trading on unfamiliar homepages or social media cryptocurrencies. The CFTC reiterates that it will not collect any taxes or fees, that it will continue to inform the investing public and that it will strictly prosecute any abuse.

US Patents The North Texas District Court sentenced by Judge Reed C. O. Connor consists of two parts. First, both must pay US $ 180,000. Part of the sum covers the repayments, the balance to be paid as a civil fine. On the other hand, both are subject to a permanent stock market ban.

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