A Serbian citizen has been extradited to the United States and will face trial on charges of $70 million in cryptocurrency fraud. He defrauded investors from several countries, including the United States.
According to a statement from
the US Department of Justice, the fraudulent scheme was to attract investments in binary options and cryptocurrency mining. Serbian authorities arrested Antonije Stojilkovic, 32, in July last year, and the FBI took him to Texas last week. He had five accomplices from Serbia and one accomplice from the United States.
Cryptocurrency scammers advertised binary options with an ” average income of 80%”. In addition, they promised a refund of 20% for each failed transaction. In the ads, the scammers claimed that investors could “buy BTC for half the market price” on their cryptocurrency mining platform.
The Justice Department alleges that Stoilkovich and his associates created the appearance of false trading activity, a history of money withdrawal, and forged electronic receipts. If convicted, they face up to 20 years in federal prison.
Recall that last week, the founder of the cryptocurrency hedge fund Virgil Capital, Stefan Qin, pleaded guilty to defrauding investors in the amount of more than $90 million. He used the money to lead a lavish lifestyle.