two-charged-with-duping-investors-out-of-$5m-with-bogus-bitcoin-buying-brokerage

Two Charged With Duping Investors Out of $5M With Bogus Bitcoin-Buying Brokerage

(imagedb.com/Shutterstock)

Current York federal prosecutors charged two males with working a phony bitcoin brokerage provider that duped victims of $5 million.

adPlace
  • As alleged in a felony criticism unsealed Monday, former fugitive Randy Craig Levine and disbarred attorney Philip Reichenthal by no system sold their two excessive-rolling patrons any bitcoin no matter promising to carry out so.
  • One victim, an unnamed “purported cryptocurrency escrow firm,” wired Levine $3 million to fund an over-the-counter desk’s bitcoin use, per prosecutors, who stated the 2d victim, a Florida bitcoin investor, wired Levine $2 million.
  • Levine allegedly suggested the victims their funds had been moved into an “escrow” provider after which stopped responding to the victims’ questions.
  • But Levine’s escrow used to be in actuality Reichenthal’s money-laundering front, prosecutors command. They claim Reichenthal wired millions to Russian, Mexican and Guatemalan bank accounts controlled by Levine aliases.
  • Levine and Reichenthal allegedly pocketed the money, giving their victims no refunds or bitcoin.
  • The pair face allegations of wire fraud, money laundering and commodities fraud in Current York federal district court docket.
  • Levine is at existing waiting for extradition from Austria; he’s been on the traipse from U.S. authorities since 2005. Reichenthal used to be disbarred final October in a Florida court docket.

Leave a comment