Centra Tech Founder Faces Jailtime for $25 Million Scam ICO
Co-founder of Centra Tech, Robert Farkas, was recently sentenced to one year in jail after he pleaded guilty to operating a fraudulent ICO scheme that raised $25 million from investors. ...
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Tag: Fraud
Ex-Microsoft Employee Gets 9 Years Imprisonment In A Bitcoin Tax Fraud Case In US
The crypto space is changing the entire global economic landscape. In the same context, many fraudsters have joined the nascent space aiming to maximize profits. In the latest news, a ...
Australian Senator Believes Blockchain Can Enhance Financial Compliance
Blockchain is still a nascent technology but it is gaining mass adoption as time goes by. In the latest news, an Australian Liberal Senator Andrew Bragg believes that blockchain can ...
Gold Bug Peter Schiff’s Bank Targeted In A Tax Evasion Probe
Since the inception of cryptos, Peter Schiff has always criticised the nascent industry especially gold. Many wonder, ‘Does an extortion attempt from Russian hackers explain Schiff's hatred for Bitcoin?’ Today, ...
US Coin Bullion Prosecution Postponed Due to Coronavirus
The ongoing COVID-19 pandemic has led to the postponement of a prosecution action against US Coin Bullion. The owners of the firm pleaded guilty of fraud in October last year. ...
Offshore Forex Fraud Costs Canadian Man $550K
An anonymous man from rural Manitoba, Canada, has reported a loss of over $550,000 through an offshore forex trading scheme. This scheme involved two different brands, according to the Manitoba ...
Belgium Lost $3.2M to Crypto Scam in 2019, Is There A Bigger Problem?
Belgium’s economic inspectorate said that investors lost about $3.2 million due to crypto fraud in 2019. Globally, losses arising from crypto fraud and theft increased massively last year almost doubling ...
Money Lost To Fraudsters Fell 30% in March Despite COVID-19 Scams
According to the data published on April 10 by Chainalysis blockchain forensics firm, the average value of transactions that were received by the wallets of known scammers dropped by 30% ...
Federal Judge Indicts Pennsylvania Lawyer in A $2.7 Million Ponzi Scheme
A federal judge recently indicted Pennsylvania lawyer Todd Lahr for his role in a fraudulent investment scheme that solicited $2.7 million from investors. How did Lahr target investors? The 60-year-old ...
Beijing Pilots Blockchain Platform to Combat Fictitious Invoices
China has accelerated its developments and applications in the budding blockchain space. After a successful rollout in Shenzhen in 2019, China’s blockchain invoicing system is now being introduced to the ...