$400,000,000 Seized From Crypto Ponzi Scheme Now Available To Compensate Victims, Says DOJ
$400,000,000 Seized From Crypto Ponzi Scheme Now Available To Compensate Victims, Says DOJ
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The US Justice Department has announced that $400 million seized from the AirBit Club, a cryptocurrency-themed Ponzi scheme, is now available to compensate victims. Operators of the scheme, which was marketed as a crypto mining and trading company, were sentenced in 2023.
The US Justice Department says funds are now available to compensate victims of the AirBit Club. Operators marketed the Ponzi scheme as a cryptocurrency mining and trading company with guaranteed profits. AirBit co-founders Pablo Renato Rodriguez and Gutemberg Dos Santos, promoters Cecilia Millan and Karina Chairez and attorney Scott Hughes were sentenced in 2023 for their involvement.