Crypto Trading Michael Jordan cheats MLB players with millions of dollars
A new judicial presentation reveals that the self-proclaimed Michael Jordan of the cryptocurrency trade has been accused of defrauding more than 100 investors in the amount of $ 7.5 million.
Investors include former professional MLB players, increasing bets and attracting additional public attention to the case.
Crypto Trading’s Ponzi scheme fools investors for $ 7.5 million
When you hear the name of Michael Jordan, although the iconic member of the NBA Hall of Fame had a short season in the Minor Leagues after retiring from his basketball career, you probably don’t think about Major League Baseball. You don’t think about cryptography either.
But according to a complaint filed in the federal court of Arizona, the self-proclaimed “Michael Jordan of algorithmic cryptocurrency trading” is being accused of cheating former MLB players and 100 other investors, for an amount of $ 7.5 million over a period. 18 months
Reports claim that the United States Secret Service arrested John Michael Caruso, also known by the trade name “Kryp + 0 K! Ng.”
Caruso is co-founder of a blockchain and crypto investment firm called Zima Digital Assets. The company’s other co-founder, Zachary Salter, was also arrested in connection with the case.
It is claimed that Salter is an R&B singer and has an album titled Sweetalker available for broadcast on Spotify.
Fake investments of MLB players involve singer and Michael Jordan of Trading
But it was Caruso and Salter investors, who spoke sweetly, of their hard earned money that could have brought the duo to the authorities.
The court presentations do not identify any MLB players directly, but they say that many MLB players and their families were among the victims. Others are senior citizens who were cheated by hundreds of thousands of dollars that could have been used for a retirement.
The researchers believe that the $ 7.5 million is just the tip of the iceberg, and they conclude that there is no evidence of investment funds. Caruso only reported revenues of $ 22,800 in 2018, but claims to do “operations calculated using proven principles and algorithms” to generate wealth for investors.
Instead, Caruso may have used the funds for a large number of luxury vehicles, including a Lambo, Rolls Royce, Ferrari and Aston Martin. It is also said that he lived a splendid life, traveled to London, Hawaii, Cabo San Lucas and many more places on a private plane, all these trips paid for by scammed investors.
Salter, who did not report any income in 2018, also owns a Mercedes, BWM, Audi and a 1957 Chevy. The couple flaunts their wealth through online profiles on Instagram as a means to attract new investors to their scheme From crypto Ponzi, Instagram seems to have removed its pages from social networks.
The authorities were informed last year after an anonymous complaint before the Federal Trade Commission.
In the past, Caruso spent time in jail for what the court calls a full-time career criminal career. He had previously served a sentence for threatening to cut off the hands and genitals of a man on his body.
In the past, Caruso spent time in jail for what the court calls a full-time career criminal career. He had previously served a sentence for threatening to cut a man’s hands and genitals.
Why would anyone trust someone with $ 22,000 in reported income and criminal records that is very confusing, but it seems that even MLB players were too blinded by the possible investment in encryption to see the fraud scheme in front of them.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.