00:46
A man in Arizona has pleaded guilty to a Ponzi Scheme involving over $13 million in encryption.
Odaily News According to the official website of the U.S. Department of Justice, Arizona man Vincent Anthony Mazzotta Jr. pleaded guilty to money laundering and obstruction of justice related to cryptocurrency investment fraud. Mazzotta and his accomplices used the lure of high returns from "AI quantitative trading Bots" to manipulate platforms like Mind Capital, defrauding investors of over $13 million, and forged documents for a second scam involving the "Federal Crypto Reserve Bureau." Mazzotta faces a maximum sentence of 15 years in prison.