Just Earth News | @justearthnews | 27 Mar 2021, 06:14 am Print
Bitcoin Image:Pixabay
Washington/Sputnik: A US court ordered a UK man to pay more than $570 million after finding he operated a bitcon fraud scheme, the Commodity Futures Trading Commission said in a statement.
"The US District Court for the Southern District of New York entered a default judgment against Benjamin Reynolds, purportedly of Manchester, England, finding that he operated a fraudulent scheme to solicit bitcoin from members of the public and misappropriated customers’ bitcoin," the release said Friday.
The court requires Reynolds to pay nearly $143 million in restitution to defrauded customers and a civil penalty of $429 million, the release said.
The court requires Reynolds to pay nearly $143 million in restitution to defrauded customers and a civil penalty of $429 million, the release said.
Reynolds solicited 22,190.542 bitcoin from more than 1,000 customers worldwide, including at least 169 individuals residing in the US, the release added.
- Nobel Prize in Chemistry 2025: Trio honoured for pioneering new molecular architecture
- Qatar Airways passenger dies choking after being told to ‘eat around’ meat instead of a vegetarian meal
- Google unveils Gemini 2.5 Computer Use, an AI model that can navigate websites like humans
- OpenAI teams up with AMD to deploy 6 gigawatts of high-performance GPUs
- U.S.-based scientists John Clarke, Michel Devoret and John Martinis win Nobel Prize in Physics
