The United States Department of Justice has charged three Miami residents – Esteban Cabrera Da Corte, Asdrubal Ramirez Meza and Luis Hernandez Gonzalez with defrauding banks and a crypto company of over $4 Million. The men used fake IDs to purchase digital assets while also later lying to financial institutions that the transactions fell through because they were not authorized in order to net more money. The trio is facing up to 30 years in Federal prison for these crimes.
The American authorities made the announcement of the arrests of the Miami citizens who allegedly purchased digital assets from a cryptocurrency exchange using stolen initials. They still went on to complain to banks that the transactions were completed without the necessary authorization and demanded a refund. Over the course of the crime, they collected over $4 million of fraudulent reversals and the cryptocurrency exchange lost over $3.5 million worth of cryptocurrency.
Homeland Security Investigations (HSI) identified the violations and rounded up the criminals. The entity vowed to continue working towards thwarting any future forms of cryptocurrency scams. The United States Department of Justice charged the men with aggravated identity theft and conspiracy to commit wire and bank fraud. The maximum sentence they could be looking at is 30 years of imprisonment.
Cryptocurrency criminals and scammers often work in groups and split the profits between themselves. Last year, the United States Securities and Exchange Commission (SEC) received a restraining order for 86-year-old Joy Kovar and her son, 54-year-old Brent Kovar for stealing over $12 million worth of digital assets from more than 270 unsuspecting investors.
The family lured unsuspecting individuals to invest in their Las Vegas-based company Profit Connect Wealth Services. The duo promised anybody who allocated funds into digital assets through their platform, considerable returns. They even told their investors that their firm uses an AI supercomputer to assure the investors of the safety of their funds. They pocketed the funds and used it to buy luxurious items for themselves including a residential home.
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