The AirBit Clubscamwas active since early 2015. The filing credits Rodriguez and Dos Santos as its founders. Meanwhile, Millan, Chairez, and Aguilar promoted the scheme.

A former professional gambler, Rick first found Bitcoin in 2013 whilst researching alternative payment methods to use at online casinos. After transitioning to writing full-time in 2016, he put a growing passion for Bitcoin to work for him. He has since written for a number of digital asset publications.

Hughes, a licensed attorney, had previously represented the AirBit Club founders in a separate case. He would later aid the scheme by removing negative reviews about it from the internet.

and Jackie Aguilar,were taken into custody in the U.S. on Aug. 18. Later,authorities arrested another member of the group,000 After Halving,Dos Santos and others behind the AirBit Club scam are now awaiting trial in the U.S.The arrests were part of a coordinated effort by special agents from HomelandSecurityInvestigations El Dorado Task Force,jewelry,on Oct. 20.Victims that requested withdrawals of apparent profits over the years were given excuses that cited supposed delays. Those that were paid out using newcomers money were often charged fees amounting to as much as 50% of their expected profits. One victim was told in April 2020 that theCoronavirus-inducedfinancial crisis had meant that AirBit had to close his account without warning.HSI Panama,2020,and extravagant property. They also reinvested cash in the scheme by throwing lavish events intended to recruit new victims.We care about your privacy. We use cookies and other identifiers in combination with other information we have about you to improve your experience.Pablo Renato Rodriguez,also involved in the AirBit Club scheme,Cecilia Millan,the Brazilian and U.S. citizen was extradited on Nov. 25.Bitcoin Will Reach $400,the HSI Panama City Transnational Criminal Investigative Unit,Karina Chairez,

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However, the group used it to direct victims money to members of the group. In total, the filing estimates that the grouplaunderedat least $20 million through the various methods used.

Gutenberg Dos Santos co-founded the AirBit Club Scam that was active between 2015 and 2020.

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as well as one count for conspiracy to commit money laundering. The charges each carry a maximum sentence of between 20 and 30 years in prison.Facebooks Libra Renamed Diem Amid Plans for Stablecoin Launch 2021Why Did Satoshi Nakamoto Choose 21M as Bitcoins Maximum Supply?Dos Santos was arrested for his involvement in the scheme on Aug. 18,History DictatesHughes himself managed one of the accounts used. The so-called Hughes Trust Account was supposed to be that of the attorneys legal practice.Publicly-Traded Ether Capital Begins Staking on an Ethereum 2.0 NodeClick hereto accept the use of these cookies and other indentifiers.View our cookie policy(BTC) Bitcoin Price Prediction 2020 / 2021 / 5 years (Updated 26 Mar. 20)The Trust Projectis an international consortium of news organizations building standards of transparency.Bitcoin May Be One of the Last Assets Still Trading in a Few WeeksA ringleader of a multimillion dollar cryptocurrency Ponzi scheme has been extradited to the U.S.South Korea Approves Postponing Crypto Tax Enforcement Until 2022The AirBit cryptocurrencyPonzi schemepromised its victims unbelievable rates of return on investments. Those duped believed they would receive shares of profits from digital asset mining and trading activity that turned out to be entirely fraudulent.The filing details that those behind the AirBit Ponzi spent some of the proceeds on cars,in Panama. According to afiling by the US Attorneys Officefor the Southern District of New York on Monday,Dos Santos stands charged with one count of conspiracy to commit bank and wire fraud,and HSI New Orleans.Lost or forgotten your password? Please enter your email ddress. You will receive mail with link to set new password.According to Mondays filing,Scott Hughes!

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An Acting US Attorney has announced the extradition of a key member of a cryptocurrency investment scam. Gutenberg Dos Santos was involved in the AirBit Club scam thats thought to have generated in excess of $20 million.

Those involved attempted to cover up the origin of the schemes proceeds by insisting on cash payments or the use of third-party cryptocurrency brokers. They also laundered money through numerous domestic and foreign bank accounts.

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