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OmegaPro Founders Charged in $650 Million Crypto Fraud Scheme
OmegaPro Founders Charged in $650 Million Crypto Fraud Scheme
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BTCCSquare news:
Federal prosecutors have indicted two executives of OmegaPro, Michael Shannon Sims and Juan Carlos Reynoso, for orchestrating a $650 million global fraud scheme disguised as a forex and crypto trading platform. The duo allegedly lured investors with promises of 300% returns through multi-level marketing tactics before freezing withdrawals in late 2022.
The case follows a broader regulatory crackdown on crypto-related fraud, including recent actions against other platforms accused of manipulating markets. Prosecutors emphasize the use of VIRTUAL currency in the scheme, though no specific cryptocurrencies were named in the indictment.
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