Three US men charged in $722m cryptocurrency Ponzi scheme

Pedro Gonçalves
Three US men charged in $722m cryptocurrency Ponzi scheme

Three men were charged with running a cryptocurrency mining operation that officials labeled a "high-tech Ponzi scheme" that defrauded investors out of $722m. The indictment alleges that Matthew Brent Goettsche, Jobadiah Sinclair Weeks and Joseph Frank Abel operated a fraudulent scheme to solicit cryptocurrency mining investments from April 2014 to December 2019. They were also charged with conspiracy to offer and sell unregistered securities. Authorities are charging the first two with...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now


Already a International Investment member?