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.
- China imposes 34 percent additional tariffs on all imported US products from April 10
- UN says fresh intensification of hostilities in Gaza left 280,000 people displaced
- IMF chief Kristalina Georgieva warns US tariffs pose a 'significant risk' to global outlook
- Liberation Day: US imposes 37 percent tariff on imports from Bangladesh
- New releases from OpenAI to be delayed, says Sam Altman on X amid Ghibli viral trend
