Scammers Do Get Caught
On Fridays we always like to add to our series that scammers do get caught. Here are two articles today about Ponzi schemers that did some of these crypto scams that many victims are falling into that actually got caught. People all the time that are clients always wonder, “Hey, do people ever go to jail for this? Does the money ever get recovered? Do people get busted?” And here are two examples.
$100 Million Crypto Ponzi Scheme in Florida
Here’s one in Stuart, Florida. Somebody stole $100 million in a crypto Ponzi scheme. Does that sound familiar? They use these fake investments in crypto to steal money from people, and they take people’s life savings. They do actually get busted. You can see here that they had to pay $1 million. You might think, “Well, they stole $100 million, why do they only have to pay $1 million?” Well, this is probably just what’s called the disgorgement. There may be other recoveries happening from third parties and from other places and assets to cover more of the victims’ losses.
$24 Million Crypto Ponzi Scheme in Nevada
Here’s another one from Nevada. This person had a $24 million crypto Ponzi scheme. Again, same scenario, very similar pattern where investors were putting money into this Ponzi scheme through a YouTube video and promising annual returns of 15 to 30%. That probably sounds familiar as well. They took people’s money, and this is a very, very serious and problematic issue. We see it all the time. We probably have 30 or 40 conversations a day with victims of these Ponzi schemes about getting their money back, getting their recovery, getting refunds, and more importantly, busting the people who are doing it.
Justice Will Prevail
So these are two good examples of actual recoveries and people getting busted doing these scams. It might put you at ease if you’re worrying about whether people actually get busted for this. They do. As long as you stick with it and you’re persistent, eventually it’ll work out, and justice comes to these scammers.
