They promised daily returns of 1%, paid weekly, for a period of up to 52 weeks, said the SEC. bitcoin crypto cryptocurrency $BTC
If convicted of all counts, he faces a maximum total penalty of 45 years in prison, the Justice Department.The US Securities and Exchange Commission announced Friday that it has halted a fraudulent crypto mining and trading scheme.
The complaint also alleges that MCC investors were initially promised returns in bitcoin . However, the defendants later “required investors to withdraw their investments in tokens called capital coin , which was MCC’s own token.”The U.S. Department of Justice also independently announced Friday that Capuci, the founder and CEO of MCC, a purported cryptocurrency mining and investment platform, has been indicted in a $62 million global cryptocurrency fraud scheme.
They also touted MCC’s own cryptocurrency as a purported decentralized autonomous organization that was “stabilized by revenue from the biggest cryptocurrency mining operation in the world,” the DOJ added, noting: The indictment further alleges that Capuci touted and fraudulently marketed MCC’s purported “trading bots” as an additional investment mechanism to help investors profit in the cryptocurrency market.