13-COUNT INDICTMENT FILED AGAINST TWO MEN FOR ALLEGEDLY FRAUDULENT BTC INVESTMENT SCHEME

Last updated: June 19, 2025, 23:01 | Written by: Ari Paul

The world of cryptocurrency, while offering exciting opportunities for investment and financial innovation, also attracts its share of malicious actors. Latest Breaking cryptocurrency news, altcoin, bitcoin, Litecoin (LTC), Ethereum, Zcash, Dash, Ripple, ICO, Monero (XMR), Bitcoin trading, Blockchain.In a recent development highlighting the risks associated with digital assets, a 13-count indictment has been filed in the United States District Court in Portland, Oregon, against two men accused of orchestrating a fraudulent investment scheme involving Bitcoin (BTC). BROOKLYN, N.Y. A 13-count indictment was unsealed earlier today in federal court in Brooklyn, New York, charging four defendants, all of whom are affiliated with Huawei Technologies Co. Ltd. (Huawei), the world s largest telecommunications equipment manufacturer, with headquarters in the People s Republic of China (PRC) and operations around the world. The indicted defendantsThe alleged scam resulted in the theft of 10.88 Bitcoin, valued at approximately $59,000.This case serves as a stark reminder of the importance of due diligence and caution when engaging with cryptocurrency investments, particularly those promising guaranteed returns or exhibiting other red flags. HOUSTON - A 13-count indictment was unsealed today charging two pharmacists and a physician for their roles in a multimillion-dollar health care fraud, kickback and money laundering scheme. A federal grand jury in Houston returned the 13-count indictment Sept. 7, which was unsealed today.The U.S.Attorney's Office for the District of Oregon announced the indictment, emphasizing the commitment to prosecuting individuals who exploit the burgeoning digital asset market for personal gain. Date: Ma Contact: A federal grand jury returned an eight-count indictment charging two men with conspiracy to commit wire fraud, wire fraud, aggravated identity theft, and conspiracy to commit money laundering concerning obtaining fraudulent proceeds of Economic Injury Disaster Loan ( EIDL ) COVID-19 loans guaranteed by the Small Business Administration.This incident underscores the need for enhanced regulatory oversight and increased investor awareness to combat the growing threat of cryptocurrency-related fraud. A 13-count indictment was filed in the U.S. charging two men with the theft of 10.88 bitcoin (worth ~$59,000). A 13-count indictment has been filed in the United States District Court in Portland, Oregon, charging two men with the theft of 10.88 bitcoin (BTC) worth roughly $59,000 as part of an allegedly fraudulent investment scheme. MoreUnderstanding the details of this case, and similar instances, can equip investors with the knowledge to protect themselves from falling victim to these sophisticated schemes.Cases such as this one involving a 13-count indictment also serve as a cautionary tale, encouraging potential investors to approach the crypto market with a healthy dose of skepticism and comprehensive research.

Details of the Alleged Bitcoin Investment Fraud

The indictment outlines a scheme where the two men allegedly lured investors with promises of zero-risk Bitcoin investments.This ""too good to be true"" scenario is a common tactic used by fraudsters. Federal prosecutors filed a superseding indictment against two leaders and six other persons who were allegedly involved in a $3 million fraud conspiracy that targeted credit unions in the sharedThe specifics of how the scheme operated are likely detailed within the 13 counts, which could include charges of wire fraud, mail fraud, and conspiracy to commit fraud. See full list on irs.govThese types of charges are typical when the perpetrators use electronic communications or the postal service to carry out their illicit activities.The specific activities that constitute each count will be examined during the legal proceedings.

The sum of 10.88 Bitcoin, while not astronomical in the context of the overall cryptocurrency market, represents a significant loss for the victims involved.At the time of the alleged theft, this amount was valued at approximately $59,000.It's important to note that Bitcoin's value is highly volatile, meaning the present-day value of that stolen Bitcoin could be significantly different.

The investigation leading to the 13-count indictment likely involved meticulous work by law enforcement agencies, potentially including the FBI, IRS Criminal Investigation, and other relevant authorities.Gathering evidence in cryptocurrency-related cases can be challenging due to the pseudonymous nature of Bitcoin transactions and the potential for the perpetrators to operate across borders.

Understanding the Charges: A Breakdown of the 13-Count Indictment

While the full indictment document provides the specific details, a 13-count indictment typically includes a variety of charges related to fraud and financial crimes. Attorney General Matthew J. Platkin today announced that a state grand jury indicted two Middlesex County men for allegedly defrauding investors out of approximately $6.7 million. The scheme used sham companies and false identities to deceive investors into believing they would receive large guaranteed returns from investments in fuel products.Here's a breakdown of the types of charges that could be included, based on similar cases and common practices:

Wire Fraud: This charge applies when electronic communications (e.g., emails, phone calls) are used to execute a fraudulent scheme. Skip to main content Bitcoin Insider. MenuEach instance of using wire communication to further the fraud can constitute a separate count.
Mail Fraud: Similar to wire fraud, but involving the use of the postal service to send fraudulent materials.
Conspiracy to Commit Fraud: This charge applies when two or more individuals agree to commit a fraudulent act.The agreement itself is a crime, even if the underlying fraud isn't fully executed.
Money Laundering: This charge involves concealing the origins of illegally obtained funds.If the perpetrators attempted to hide the stolen Bitcoin by transferring it through multiple wallets or converting it to other assets, they could face money laundering charges.
Theft: Depending on the specific circumstances, the indictment could include charges related to the actual theft of the Bitcoin.
Securities Fraud: If the investment scheme involved unregistered securities offerings or misrepresented the nature of the investment, securities fraud charges could be filed.

The presence of 13 counts suggests a pattern of repeated fraudulent activity or multiple victims affected by the scheme.Each count carries its own potential penalties, which can include substantial fines and imprisonment.

The Impact of Cryptocurrency Fraud on Investors

Cryptocurrency fraud can have devastating consequences for investors, both financially and emotionally.Victims often lose significant amounts of money, and the process of recovering those funds can be difficult and time-consuming. Note: View the indictment here. A six-count indictment was unsealed today in Los Angeles charging two California men with defrauding investors of more than $22 million in cryptocurrency through a series of digital asset project rug pulls, a type of fraud scheme in which the creator of a nonfungible token (NFT) or other digital asset project solicits funds from investors for the projectBeyond the financial losses, victims may also experience feelings of shame, anger, and betrayal.

This case, where a 13-count indictment was issued, highlights the importance of vigilance in the crypto investment landscape. A 13-count indictment has been filed in the United States District Court in Portland, Oregon, charging two men with the theft of 10.88 bitcoin (BTC) worth roughly $59,000 as part of an allegedly fraudulent investment scheme. The development was announced by the U.S. Attorney s Office for the District of Oregon in a news release published by the Department of Justice on April 24. The two menThe promise of ""zero-risk"" in any investment, especially in the volatile cryptocurrency market, should be an immediate red flag.

Real-World Examples of Cryptocurrency Fraud

The case in Oregon is not an isolated incident. The Department of Justice provides updates on legal proceedings and news related to justice in the United States.Cryptocurrency fraud is a growing problem, with numerous examples reported around the world. As reported earlier today, the agencies joint alert comes following the 13-count indictment of two men for allegedly operating a scam bitcoin (BTC) investment scheme which promised zero-riskHere are a few notable examples:

Ponzi Schemes: These schemes involve paying returns to earlier investors using funds from new investors. Se ha presentado una acusaci n de 13 cargos ante el Tribunal de Distrito de los Estados Unidos en Portland, Oreg n, en la que se acusa a dos hombres del robo de 10,88 bitcoin por un valor aproximado de USD 59,000 como parte de un plan de inversi n supuestamente fraudulento.They inevitably collapse when new investment slows down.Many cryptocurrency-related scams operate as Ponzi schemes, promising high returns but lacking a sustainable business model.
Rug Pulls: Common in the NFT and DeFi space, a ""rug pull"" occurs when the creators of a project abandon it after raising significant funds from investors, effectively ""pulling the rug out"" from under them.
Pump and Dump Schemes: These schemes involve artificially inflating the price of a cryptocurrency through misleading positive statements, then selling off their holdings at a profit before the price crashes.
Phishing Attacks: These attacks involve tricking individuals into revealing their private keys or other sensitive information, allowing the attacker to steal their cryptocurrency.
Investment Scams: These scams involve fraudulent investment opportunities that promise unrealistic returns.

Protecting Yourself from Bitcoin and Cryptocurrency Investment Scams

While the risks of cryptocurrency fraud are real, there are steps you can take to protect yourself and your investments.The news surrounding the 13-count indictment serves as a timely reminder to exercise caution.

Do Your Research: Before investing in any cryptocurrency or project, thoroughly research the team behind it, the technology involved, and the overall market. The SEC has filed fraud charges against three individuals from Texas, alleging their involvement in a $91 million Ponzi scheme that targeted over 200 investors nationwide through a fraudulent bond-trading operation.Look for credible sources of information and be wary of hyped-up claims.
Be Skeptical of Guaranteed Returns: No investment is guaranteed to generate returns, especially in the volatile cryptocurrency market. Two men, who have been allegedly been running a fraudulent investment scheme, have been charged with the theft of 10.88 Bitcoin (BTC), which is worth about $59,000. A 13-count indictment has been filed against them in the District Court of Portland in Oregon in the US.If someone promises you guaranteed profits or zero risk, it's likely a scam.
Invest Only What You Can Afford to Lose: Cryptocurrency investments can be highly speculative, and there's always a risk of losing your entire investment. A 13-count indictment was filed in the U.S. charging two men with the theft of 10.88 bitcoin (worth ~$59,000). A 13-count indictment has been filed in the United States District Court in Portland, Oregon, charging two men with the theft of 10.88 bitcoin worth roughly $59,000 as part of an allegedly fraudulent investment scheme.Only invest money that you can afford to lose without significantly impacting your financial well-being.
Secure Your Wallet: Use a strong password and enable two-factor authentication to protect your cryptocurrency wallet from unauthorized access. The grand jury indictment was filed in the U.S. District Court for Northern California in San Francisco on May 13 and unsealed Thursday after FBI agents arrested Mattson, 63, in a parking lotConsider using a hardware wallet for added security.
Be Wary of Phishing Attacks: Be cautious of unsolicited emails, messages, or websites that ask for your private keys or other sensitive information. The owner and operator of two West Covina hospices was arrested today on a 14-count federal grand jury indictment alleging she filed more than $4.8 million in false and fraudulent claims to Medicare which paid more than $3.8 million on those claims for medically unnecessary services for people not terminally ill and for paying kickbacks to marketers to procure patients.Always double-check the sender's address and the website's URL before entering any information.
Diversify Your Investments: Don't put all your eggs in one basket. A 13-count indictment has been filed in the United States District Court in Portland, Oregon, charging two men with the theft of 10.88 bitcoin worth roughly $59,000 as part of an allegedlyDiversify your cryptocurrency investments across multiple assets to reduce your overall risk.
Use Reputable Exchanges: Only use reputable cryptocurrency exchanges that have strong security measures in place.
Stay Informed: Keep up-to-date on the latest news and trends in the cryptocurrency market. A 13-count indictment has been filed in the United States District Court in Portland, Oregon, charging two men with the theft of 10.88 bitcoin worth roughly $59,000 as part of an allegedly fraudulent investment scheme.[BREAK] The development was announced by the U.S. Attorney's Office for the District of Oregon in a news release published by the Department of Justice on April 24.[BREAK] TheThis will help you identify potential scams and make informed investment decisions.

The Role of Regulatory Bodies in Combating Cryptocurrency Fraud

Regulatory bodies like the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are increasingly focused on regulating the cryptocurrency market and cracking down on fraudulent activities.The filing of a 13-count indictment is one example of how these efforts can lead to prosecutions.

These agencies are working to establish clear rules and regulations for cryptocurrency exchanges, initial coin offerings (ICOs), and other cryptocurrency-related activities.They are also actively investigating and prosecuting individuals and companies involved in cryptocurrency fraud.

However, the regulatory landscape for cryptocurrency is still evolving, and there are challenges in applying existing laws to this new asset class. O Hanlon s wife, Karen Stefanowski, 62, of Loxahatchee, Florida, pleaded guilty on Ap, before the Hon. Karen M. Williams, U.S. District Judge, Camden, to Counts One and Three of a 13-count Indictment, charging conspiracy to commit wire fraud in connection with telemarketing that targeted or victimized timeshare owners over theInternational cooperation is also essential to combat cross-border cryptocurrency fraud.

The Future of Cryptocurrency Regulation

The future of cryptocurrency regulation is likely to involve a combination of approaches, including:

Enhanced Registration and Licensing Requirements: Requiring cryptocurrency exchanges and other businesses to register with regulatory agencies and obtain licenses.
Stricter Disclosure Requirements: Requiring cryptocurrency projects to provide more transparent information to investors.
Increased Enforcement Actions: Aggressively prosecuting individuals and companies involved in cryptocurrency fraud.
International Cooperation: Working with other countries to combat cross-border cryptocurrency fraud.

Ultimately, effective regulation is essential to protect investors and promote the responsible development of the cryptocurrency market. Santos was placed under arrested on a 13 count, 19 page indictment that outlines three main schemes. Unemployment insurance fraud scheme. The indictment says Santos was employed as a regionalThe case involving the 13-count indictment serves as an example of the types of enforcement actions that regulatory bodies can take.

Legal Proceedings and Potential Outcomes of the Indictment

Following the filing of the 13-count indictment, the two men will face legal proceedings in the United States District Court in Portland, Oregon.This process typically involves:

Arraignment: The defendants will be formally presented with the charges against them and will enter a plea (guilty or not guilty).
Discovery: The prosecution and defense will exchange evidence.
Pre-Trial Motions: Both sides may file motions to suppress evidence, dismiss charges, or request other rulings from the court.
Trial: If the defendants plead not guilty, a trial will be held where the prosecution presents evidence to prove their guilt beyond a reasonable doubt.
Verdict: The jury (or the judge in a bench trial) will render a verdict of guilty or not guilty.
Sentencing: If the defendants are found guilty, the judge will impose a sentence, which may include fines, imprisonment, and restitution to the victims.

The potential outcomes of the case will depend on the evidence presented, the strength of the prosecution's case, and the skill of the defense attorneys. A grand jury in Denver returned an indictment, unsealed today, charging two Colorado men with wire fraud, conspiring to commit wire fraud and money laundering related to their operation of a multi-million-dollar investment fraud scheme called the ROI Cash Flow Fund.If convicted on all counts, the defendants could face significant prison sentences and substantial financial penalties.

Examples of other recent fraud cases

The 13-count indictment against the two men accused of the Bitcoin investment scheme is not an isolated case.Federal and state authorities across the United States have recently pursued a variety of fraud cases, indicating a broader effort to combat financial crimes.

In New Jersey, Attorney General Matthew J. HOUSTON, Texas (KTRK) - Two pharmacists and a physician in Houston are charged for their alleged roles in a multimillion-dollar fraud scheme of six years following a 13-count indictment. ThePlatkin announced the indictment of two men for allegedly defrauding investors out of approximately $6.7 million through sham companies and false promises of guaranteed returns from fuel product investments.
In Los Angeles, a six-count indictment charged two California men with defrauding investors of over $22 million in cryptocurrency through ""rug pulls"" involving digital asset projects.
In Brooklyn, New York, a 13-count indictment was unsealed against four defendants, including Huawei Technologies Co.Ltd., for allegedly engaging in activities that threatened U.S. national security.
In Houston, Texas, two pharmacists and a physician were indicted on 13 counts for their roles in a multimillion-dollar health care fraud, kickback, and money laundering scheme.
In Mobile, Alabama, criminal charges were announced against seven defendants related to a multi-million dollar fraud scheme at the Water Works and Sewer Board of the City of Prichard.

The Importance of Vigilance in the Cryptocurrency Market

The cryptocurrency market continues to evolve, offering both opportunities and risks. MOBILE, AL Today, U.S. Attorney Sean P. Costello announced criminal charges against seven defendants related to a multi-million dollar fraud scheme at the Water Works and Sewer Board of the City of Prichard ( Prichard Water Board ). A federal grand jury in Mobile has returned a thirty-two count indictment against five individuals, while two people have already pleaded guiltyThe case involving the 13-count indictment serves as a crucial reminder to exercise caution and due diligence when engaging with cryptocurrency investments.By understanding the potential risks, taking steps to protect yourself, and staying informed about the latest trends and regulations, you can navigate the cryptocurrency market more safely and avoid falling victim to fraud. CENTRAL ISLIP, NY A 13-count indictment was unsealed today in the United States District Court for the Eastern District of New York charging George Anthony Devolder Santos, better known as George Santos, a United States Congressman representing the Third District of New York, with seven counts of wire fraud, three counts of money laundering, one count of theft of public funds, andRemember the phrase ""too good to be true"" when evaluating investment opportunities, and always consult with a qualified financial advisor before making any investment decisions.

Key Takeaways and Actionable Advice

In conclusion, the 13-count indictment filed against the two men for allegedly running a fraudulent Bitcoin investment scheme underscores the persistent risks associated with cryptocurrency investments. Two men living in Southern California were arrested today for allegedly leading a complex money laundering scheme that targeted more than 100 victims, many of whom were targeted because they were elderly, and caused victims more than $10 million in losses.Here are some key takeaways and actionable advice to protect yourself:

Always be skeptical of guaranteed returns: No investment is without risk, especially in the volatile cryptocurrency market.
Do your own research: Thoroughly investigate any cryptocurrency project or investment opportunity before investing.
Secure your cryptocurrency wallet: Use strong passwords, enable two-factor authentication, and consider using a hardware wallet.
Be wary of phishing attacks: Never share your private keys or other sensitive information with anyone.
Diversify your investments: Don't put all your eggs in one basket.
Stay informed: Keep up-to-date on the latest news and trends in the cryptocurrency market.

By following these tips, you can significantly reduce your risk of falling victim to cryptocurrency fraud. 13-Count Indictment Filed Against Two Men for Allegedly Fraudulent BTC Investment Scheme. Get 50% OffStay vigilant, stay informed, and invest wisely.