Inside a Crypto 'Ponzi': How the $6.5M Banana.Fund Fraud Unravelled
U.S. prosecutors are seeking to return $6.5 million in allegedly scammed bitcoin to victims of the "Banana.Fund" crowdfunding project, which the government described in court papers as a Ponzi scheme. In a forfeiture suit against the cryptocurrency account storing the funds, prosecutors allege Banana.Fund's unnamed administrator admitted to investors his project had flopped, promised to return $1.7 million to them and then failed to do so.
Tuesday, August 4, 2020
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