The idea of a yield-paying layer-2 blockchain atop Ethereum has clearly demonstrated market allure. But even the project's biggest investor has taken issue with the execution...
The scheme's founders and promoters promised victims their money would be invested in a lucrative mining operation, but instead spent funds on cars, jewelry and luxury homes.
The commission alleges the defendants fraudulently solicited over $7 million worth of bitcoin and ether and misappropriated some of the funds in a Ponzi scheme.
One of the men charged, 64-year-old Spanish citizen Nestor Nunez, was allegedly an actor paid to present himself as the CEO of Forcount using the alias “Salvador Molina.”