US Prosecutors Charge New Suspect In $45M Blockchain Fraud ‘CoinDeal’

Republicat de Platon

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US
prosecutors have filed a lawsuit against a new suspect, Bryan Lee, 57, for his
alleged involvement in ‘CoinDeal’, a fraudulent investment scheme that raised
$45 million by selling unregistered securities. Neil Chandran, the mastermind
behind the scheme, was arrested in June last year and indicted for wire fraud
and monetary transaction in unlawful proceeds.

În ciuda a
similar brand, the scheme has no connection with CoinDeal, a St. Vincent and
Grenadines-based crypto schimb condus de Adam Bicz și Kajetan Maćkowiak.

Mai devreme în
January, the US Comisia pentru Valori Mobiliare și Schimb (SEC ) charged Chandran and
four other individuals pentru implicarea lor în schemă. Autoritatea de reglementare a valorilor mobiliare i-a numit pe persoane drept Garry Davidson, Michael Glaspie, Amy Mossel și Linda Knott.

According to the regulator, the individuals through three entities: AEO Publishing Inc, Banner Co-Op, Inc, and BannersGo,
LLC, were involved in the sale of unregistered securities between January 2019 to 2022.

În
latest on the case, the US Department of Justice divulgate on Friday that Lee will make an initial appearance
before a federal court in Las Vegas as part of its prosecution. The public
prosecutor noted that Lee conspired with Chandran and others to defraud
investors via companies controlled by the latter.

Cum
Chandran Ran ‘CoinDeal’

Conform
to US prosecutors, Chandran and his cohort ran various companies under the nane
‘CoinDeal’. The firms, which were also operated under the banner of ‘ViRSE,’ included
Free Vi Lab, Studio Vi Inc., ViDelivery Inc., ViMarket Inc., and Skalex USA
Inc., among others.

citand
court documents, the prosecutors explained that Chandra falsely claimed that
they were developing virtual-world or blockchain technologies, including their own
cryptocurrency, for use in a metaverse. They also misled investors by promising
“extremely high returns,” claiming that the company was about to be purchased by
a group of wealthy buyers.

In
particular, prosecutors said Lee was the nominee and director of ViMarket. In
this role, he followed Chandran’s directives on how to disburse investor funds
sent into ViMarket’s bank accounts.

În plus,
DOJ alleges that both executives misappropriated “millions of dollars of
investor funds and spent them on luxury cars and real estate.” The prosecutor
said over 10,000 victims were affected by the scheme.

PUBLICITATE

“Lee is
charged by indictment with one count of conspiracy, two counts of mail fraud,
one count of wire fraud, and three counts of engaging in monetary transactions
in criminally derived property,” the DOJ said in o declarație. “If convicted, Lee faces up to 20
years in prison for each of the wire fraud, mail fraud, and conspiracy counts,
and up to 10 years in prison for each count of engaging in unlawful monetary
tranzacții.”

Între timp,
the public prosecutor noted that Michael Glaspie, who helped to market’s
Chandran’s companies, pled guilty to wire fraud in February and will be
sentenced on June 16.

În ciuda a
similar brand, the scheme has no connection with CoinDeal, a St. Vincent and
Grenadines-based crypto schimb condus de Adam Bicz și Kajetan Maćkowiak.

Cum
Chandran Ran ‘CoinDeal’

In
particular, prosecutors said Lee was the nominee and director of ViMarket. In
this role, he followed Chandran’s directives on how to disburse investor funds
sent into ViMarket’s bank accounts.

PUBLICITATE

Între timp,
the public prosecutor noted that Michael Glaspie, who helped to market’s
Chandran’s companies, pled guilty to wire fraud in February and will be
sentenced on June 16.