⁠U.S. authorities have charged a New York resident with wire fraud for misusing investors’ funds in a digital currency scheme dubbed Igobit

⁠U.S. authorities have charged a New York resident with wire fraud for misusing investors’ funds in a digital currency scheme dubbed Igobit

Gate Trade News Thursday, November 7, 2019 39 17

The Office of United States Immigration and Customs Enforcement’s Homeland Security Investigations and prosecutors for the Southern District of New York have indicted a man for allegedly participating in a cryptocurrency scheme dubbed Igobit.

Asa Saint Clair was charged with one count of wire fraud, which carries a maximum sentence of 20 years in prison if convicted.

 

The document states that, from 2017 through September 2019, Saint Clair solicited investors to be part of Igobit by World Sports Alliance, a purported intergovernmental organization focused on promoting international development through sports, while falsely promising them guaranteed returns and ownership interests in the organization.

 

 

In October, U.S prosecutors indicted a man from Singapore for using stolen identities to illegally utilize Amazon Web Services’ cloud computing power for crypto mining. The prosecutors further claimed that the man used illegally accessed virtual machines to mine cryptocurrencies such as Bitcoin (BTC), Litecoin (LTC) and Ethereum (ETH) to amass a total of $5 million.