Crypto Conman Pleads Guilty in $13M Crypto Ponzi Scheme
Vincent Anthony Mazzotta Jr., the man at the heart of a $13 million cryptocurrency Ponzi scheme , has pleaded guilty to multiple federal charges, including money laundering and obstruction of justice. The 54-year-old played a role in a complex fraud that ran from 2017 to 2023, convincing investors to hand over large sums of money […]
Judge Sentences IcomTech Promoter to 8 Years for Crypto Fraud
IcomTech allegedly defrauded users of over $8 million between 2018 and 2019, and Rodriguez’s colleague is set for sentencing on November 22. Gustavo Rodriguez received an eight-year jail sentence for organizing a conspiracy to conduct wire fraud to promote the cryptocurrency mining and trading company IcomTech. Judge Jennifer Rochon stated that she had discovered “intentional […]
Two Promoters of IcomTech Crypto ‘Ponzi’ to Face 20 Years Jail Term
A New York jury convicted two former promoters of the alleged cryptocurrency mining and trading company IcomTech, both now subject to a maximum sentence of 20 years in prison for their involvement in the “Ponzi” scheme. The two-week trial concluded on March 14 when a jury in a New York District Court found Gustavo Rodriguez […]
Dark Side of Cryptocurrencies – Risks, Scams, and Ponzi Schemes
From hackers who take advantage of security holes to fraud by the people running the system. This article reveals the dark side of cryptocurrencies and everything you should avoid! It’s impossible to think that anyone working with cryptocurrencies doesn’t know the industry is rife with scams and theft and carries extraordinary risks. Any investor no […]
Bitconnect promoter Glenn Arcaro pleads guilty over Ponzi scheme
BitConnect promoter Glenn Arcaro has admitted his involvement in the affair, although it is unclear where the company’s creator Satish Kumbhani is hiding out. Glenn Arcaro , a former director and promoter of the infamous Bitconnect Ponzi scheme, has entered a guilty plea to fraud charges stemming from his involvement with the now-defunct cryptocurrency exchange […]