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A pair of siblings has been indicted on charges of defrauding approximately 20,000 investors and amassing $124 million through a cryptocurrency scam, Your Content has learned.
John Barksdale, 40, was apprehended overseas on counts of conspiracy, securities fraud, and wire fraud related to the fraudulent scheme.
His sister, JonAtina ‘Tina’ Barksdale, 45, is also implicated in court documents, which assert that they deceived investors for an extended period by misrepresenting the value of Ormeus Coin’s mining assets.
The Barksdale siblings’ social media posts captured their extravagant global travels while the scam unfolded from January 2017 until December.
Through various mediums like social media, advertisements, and investor communications, they propagated the notion that the cryptocurrency was supported by a $250 million mining venture.
However, prosecutors allege that the siblings ceased their mining operation in 2019, having generated a meager sum of under $3 million.
Instead, they purportedly presented an unidentified individual’s Bitcoin wallet as the ‘Ormeus Reserve Vault.
‘ The Barksdales are accused of amassing over $70 million from nearly 20,000 investors across the globe, according to The Daily Advent.
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