US Court Convicts 'My Big Coin' Founder in $6 Million Fraudulent Cryptocurrency Scheme
A federal jury has convicted the founder of “My Big Coin” in a fraudulent scheme that swindled $6 million from cryptocurrency investors. The defendant made several false claims, including that the coins were backed by gold and that the company had a partnership with Mastercard.
The U.S. Department of Justice (DOJ) announced Thursday that the founder of My Big Coin Pay Inc. (aka My Big Coin), Randall Crater, has been convicted in a cryptocurrency fraud scheme. The 51-year-old from East Hampton, New York, defrauded investors of over $6 million, the DOJ alleged. Crater has been “convicted of four counts of wire fraud, three counts of unlawful monetary transactions, and one count of operating an unlicensed money transmitting business,” the Justice Department detailed.
Source
@CryptoWorldAnalysis
