Ponzi Scheme on $722 Million is Disclosed in the USA

Such information appeared on the website of the US Department of Justice on Tuesday, December 10. A published press release said that during the investigation, three members of the Ponzi scheme were arrested. Two more members remain unfound.

Matthew Brent, Jobadiah Sinclair, and Joseph Frank were charged with selling shares in BitClub, which is not registered with the U.S. Securities and Exchange Commission. Each of the accused faces 5 years in jail and a fine of $250 thousand. As for the creation of a financial pyramid, the prison term is even more serious - about twenty years.

The investigation of this cybercrime was carried out jointly by representatives of IPS and FBI. At the moment, information about the victims is still being received. Each deceived investor can go to a special page or website of the Ministry of Justice to get more information and fill out an investor questionnaire for a non-existent BitClub company.

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