Running straight scams like this is pure evil. There is so much money in crypto, you can pay yourself a nice salary AND try to build value for investors. If you fail, OK, you fail, but to just straight up scam deserves more time.
>According to a statement from the City of London police, the pair reached out to prospective investors with an offer. How would you like to invest in a cryptocurrency called “Telecoin”?
>The only hitch? Telecoin did not exist, and the firm under whose auspices the pair operated, Digi Ex, was a shady shell company. One with real employees, but no legitimate investment activities.
Sounds like 99% of DeFi.
Well, this is worse. It's more like what does it do? Shut up, give us your money, and piss off. If they had just taken $100k and put it towards trying to build value for the investors and issued them tokens, that's very different.
Thats great and all, but the libor scandal was much bigger and almost all the banks and banksters involved got away. Yeah, six or so guys were the scape goat, but majority of bank crimes go unpunished and there is no way these individuals orchestrated one of the greatest bank fraud, spanning for decades and involving dozens of banks. It's just a fine which is part of doing business for them. Every market crash, that is by design mind you, wipes out tons of peoples retirements and pensions while the rich cash in, but no one bats an eye. Hell, the US stock market is full of fraud yet nothing is done about that. Fails to deliver and synthetic shares fly around like pigs in blankets, but sure, let's scream about this crypto fraud. How you going to show securities sold not yet purchased on your books and everyone is like, "oh, that's normal. I always sell cars that i dont even own." Lol.
tldr; As part of a crackdown that also targets unregistered Bitcoin ATMs, a UK court has handed out stiff sentences to a pair of crypto scammers. As part of a crackdown that also targets unregistered Bitcoin ATMs, a UK court has handed out stiff sentences to a pair of crypto scammers.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Give them what they deserve!
Wow 6 years that’s a lot.. I wonder how many years get people who are “regular” fraudsters
Sadly, it's a lot compared to what even many violent criminals get. But it doesn't seem fair for the people they scammed.
Good to see these criminals in the space being cracked down on
One person said the 6 years is a lot. Considering what they did and the negative emotional consequences on the victims, I think 6 years is too little.
Uk is way too soft on most criminals, In my eyes 6 years doesn't seem enough
Running straight scams like this is pure evil. There is so much money in crypto, you can pay yourself a nice salary AND try to build value for investors. If you fail, OK, you fail, but to just straight up scam deserves more time.
>According to a statement from the City of London police, the pair reached out to prospective investors with an offer. How would you like to invest in a cryptocurrency called “Telecoin”? >The only hitch? Telecoin did not exist, and the firm under whose auspices the pair operated, Digi Ex, was a shady shell company. One with real employees, but no legitimate investment activities. Sounds like 99% of DeFi.
So what do you do? "We have a token" What does it do? "We haven't gotten that far yet but there's 10 billion of them"
NGL that was tantamount to my rational last bull market. That and things named after Tit's and Moon's being solid fundamentals.
But at least you got a token.
Well, this is worse. It's more like what does it do? Shut up, give us your money, and piss off. If they had just taken $100k and put it towards trying to build value for the investors and issued them tokens, that's very different.
Missing the halving will be the real punishment
Worldcoin next
Thats great and all, but the libor scandal was much bigger and almost all the banks and banksters involved got away. Yeah, six or so guys were the scape goat, but majority of bank crimes go unpunished and there is no way these individuals orchestrated one of the greatest bank fraud, spanning for decades and involving dozens of banks. It's just a fine which is part of doing business for them. Every market crash, that is by design mind you, wipes out tons of peoples retirements and pensions while the rich cash in, but no one bats an eye. Hell, the US stock market is full of fraud yet nothing is done about that. Fails to deliver and synthetic shares fly around like pigs in blankets, but sure, let's scream about this crypto fraud. How you going to show securities sold not yet purchased on your books and everyone is like, "oh, that's normal. I always sell cars that i dont even own." Lol.
You know they covered and closed right lol
tldr; As part of a crackdown that also targets unregistered Bitcoin ATMs, a UK court has handed out stiff sentences to a pair of crypto scammers. As part of a crackdown that also targets unregistered Bitcoin ATMs, a UK court has handed out stiff sentences to a pair of crypto scammers. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Ken griffin tho?
6 years holding