News crossing of a guilty plea from a former investment banker who was charged in April with misappropriating funds from investors he wooed with promises of big returns from cryptocurrency trading.
From the article (link here for more):
- Russell told prospective investors that he was a licensed broker who worked in investment banking and could help them earn large and sometimes guaranteed returns from a cryptocurrency fund he claimed to run. Prosecutors said Russell transferred some funds into a trading account but siphoned the rest,
- faces up to 30 years in prison when sentenced
- will be required to pay restitution of more than $1.5 million
More info here.
Bitcoin update:
It’s a shame crypto has been maligned on news like this. It was flavour of the month when the crime took place. I imagine there is someone out there doing the same with some imaginary AI fund right now. Only the instruments change, nefarious humans do not.
ps. Anyone wanna buy a tulip?
This article was written by Eamonn Sheridan at www.forexlive.com. Source