Seven executives of AirBit Club pleaded guilty to fraud in their roles in a multiyear venture the Department of Justice claims was a crypto 'Ponzi scheme.'
Several executives of Airbit Club, a so-called cryptocurrency mining and trading platform, have pleaded guilty in New York for their roles in an international fraud and money laundering scheme, according to a press release from the Department of Justice on Wednesday.
“The... Several executives of Airbit Club, a so-called cryptocurrency mining and trading platform, have pleaded guilty in New York for their roles in an international fraud and money laundering scheme, according to a press release from the Department of Justice on Wednesday. “The defendants took advantage of the growing hype around cryptocurrency to con unsuspecting victims around the world out of millions of dollars with false promises that their money was being invested in cryptocurrency trading and mining,” said U.S. attorney for the Southern District Damian Williams.
They also were ordered to forfeit proceeds from Airbit Club, including U.S. dollars, cryptocurrency, Bitcoin and real estate with a current value of $100 million, according to the DOJ.
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