The US Department of Justice Accuses the Head of the Volantis Escrow Platform of fraud with BTC at $ 7 million

US prosecutors accused the head of the company specializing in the deposit of bitcoins, fraud at $ 7 million.

The US Attorney’s office in the Southern District of New York has filed two allegations of commodity fraud and electronic fraud by Jon Barry Thompson, the head of Volantis Escrow Platform LLC. In a published complaint
He is accused of making misleading statements about investment risks, as well as the custody and control of digital assets.

US Attorney Jeffrey S. Berman (Geoffrey S. Berman) said in a statement:

“As his clients soon realized, Thompson’s statements were false, and these cryptocurrency investors eventually lost all the money that was entrusted to him.”

According to prosecutors, Thompson used for his own purposes the lack of customer information about the emerging asset class. In promotional materials and in personal communication with clients, he pretended to be a competent investor, custodian or financier.

The two companies that were allegedly victims of Thompson sent him several million dollars in the hope of getting bitcoins in return. Thompson told a client that he received the money and owns the coins. At the same time, he sent the received $ 3 million to a third-party exchange for the purpose of personal earnings.

Read This Now: Thousands of people in Germany took to the action in support of Nord Stream 2

The Ministry of Justice did not reveal the identity of the victims. According to an article published in January
Forbes, Volantis agreed to transfer 6600 BTC to the cryptocurrency investment firm Symphony, but the transaction was never completed. Thompson, arrested on Thursday in Pennsylvania, faces up to 40 years in prison.

US prosecutors actively pursue unscrupulous cryptocurrency companies. Recently, the New Jersey State Attorney accused
Pocketinns platform in violation of securities laws. And in May, Prosecutor Jeffrey Berman announced
The arrest of a US citizen on charges of managing shadow cryptocurrency companies and banking fraud.