Key Player In $13M Crypto Ponzi Pleads Guilty

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A major player in a crypto Ponzi scheme that duped victims out of $13 million with claims of using artificial intelligence-powered crypto trading bots and a fake government agency has pleaded guilty.

The US Department of Justice said on Monday that Vincent Anthony Mazzotta Jr admitted to his role in defrauding investors by promising high yields made through fictitious investment firms that use AI-powered crypto trading bots.

Mazzotta pleaded guilty to money laundering and conspiracy to obstruct justice, which together carry a maximum penalty of 15…



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Key Player In $13M Crypto Ponzi Pleads Guilty


A major player in a crypto Ponzi scheme that duped victims out of $13 million with claims of using artificial intelligence-powered crypto trading bots and a fake government agency has pleaded guilty.

The US Department of Justice said on Monday that Vincent Anthony Mazzotta Jr admitted to his role in defrauding investors by promising high yields made through fictitious investment firms that use AI-powered crypto trading bots.

Mazzotta pleaded guilty to money laundering and conspiracy to obstruct justice, which together carry a maximum penalty of 15…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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