The SEC Terminated a $62 Million Global Cryptocurrency Trading and Mining Scheme

The DRY announced the fraudulent cryptocurrency mining and trading activities of MCC (Mining Capital Coin) in the country.

the MCC and its founders (Luiz Carlos Cappuci Jr and Emerson Sounza Pires), as well as two entities controlled by them are accused by the agency of illegal crypto activities such as unregistered offers for investors, fraudulent sales of mining packages for thousands of investors, and false promises about returns on Bitcoin. However, the defendants later “required investors to withdraw their investments in tokens called capital coin (CPTL), which was the proper token from MCC. »

MCC’s fraudulent activities since 2018 set forth by Watchdog are: “MCC, Capuci and Pires sold mining packages to 65,535 investors worldwide and promised daily returns of 1%, paid weekly, for up to 52 weeks. »

DOJ accuses MCC founder and CEO

The United States Department of Justice also announced that MCC founder and CEO Capuci for an alleged cryptocurrency mining and investment platform indicated a $62 million fraud scheme. dollars in world currencies.

The DOJ recorded that the CEO MCC misled investors about its platform’s cryptocurrency mining and investing program, tricking them into investing in MCC’s mining packages.

Additionally, the DOJ also noted that they own a cryptocurrency as a so-called decentralized autonomous organization, which has been “stabilized by revenues from the largest cryptocurrency mining operation in the world. Noting:

” However, Capucci operated a fraudulent investment scheme and did not use investor funds to mine new cryptocurrency as promised, but instead diverted funds to cryptocurrency wallets under its control. »

The CEO Capucci also fraudulently marketed MCC’s so-called “trading robots” as an additional investment mechanism to help investors profit from the trading market. cryptocurrencies. He also illegally recruited promoters and affiliates to promote MCC as part of a pyramid scheme. And concealed the location and control of fraud proceeds by laundering the funds through various foreign-based crypto exchanges.

The United States Department of Justice said:

« Capucci is charged with conspiracy to commit wire fraud, conspiracy to commit securities fraud and conspiracy to commit international money laundering. If convicted on all counts, he faces a maximum aggregate sentence of 45 years in prison. »

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The SEC Terminated a $62 Million Global Cryptocurrency Trading and Mining Scheme

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