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Finally, we are looking like we are making some headway against all these scammers. Hopefully, this will be one of the first or many more convictions like this to come. Then finally we might see a trend reversal among these types of scams.
Florida man pleads guilty
No not that type of Flordia man, just the "normal" type of man from Florida. He has pleaded guilty to partaking in a ponzi scheme where they over two years tricked people off of around $100M.
The man was acting as "head trader" for EmpiresX. A crypto investment platform that promised investors nearly 1% daily return on their investment. This was being achieved by their state-of-the-art "trading bot", and by the head trader, the Florida man found guilty.
When they looked closer they found neither a trading bot, state of the art, or otherwise. Nor any profits made from any trades. Only the opposite in fact. Instead what they found was the small number of trades done had incurred substantial losses. And the bulk of the money had instead been taken out by the Florida man and his two co-founders of EmpiresX.
These funds were used to rent a Lamborghini, because of course it was... And they also bought numerous items from Tiffany & Co., and made payments on a second home.
Sadly the two co-founders managed to flee the US, back to their native country of Brazil. They did this as soon as their funds got frozen earlier this year. And I guess that goes to show you what honor among thieves is worth. Charges were brought against the two. And I sincerely hope that they will be extradited to the US where they can stand trial for their crimes.
What is your thought on this? Do you think it is a good "first" step, or is it too little to late? Please share your thoughts in the comment section down below. If you would like to support me and the content I make, please consider following me, reading my other posts, or why not do both instead.
See you on the interwebs!
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