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Man suspected of embezzling $62 million in cryptocurrencies

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With each passing day, cryptocurrencies are gaining prominence in society and in economic and financial systems. Recently, in Portugal, a T3 was sold in Braga (Portugal9 for 3 Bitcoin.

A director of a cryptocurrency investment and creation platform has been accused of orchestrating a $62 million (€58.7 million) global fraud scheme.

Man suspected of embezzling $62 million in cryptocurrencies

Man charged with wire fraud for stealing cryptocurrencies

The revelation was made by the United States Federal Prosecutor's Office, which claims that Luiz Capuci, 44, residing in a town on the southeast coast of the US state of Florida, has been charged with the crimes of " conspiracy to commit wire fraud, securities fraud and money laundering "internationally".

The indictment alleges that Capuci misled investors about his company's cryptocurrency creation and investment program, Mining Capital Coin (MCC), which offered investments through the purchase of “mining packages”.

Man suspected of embezzling $62 million in cryptocurrencies

Deputy Attorney General Kenneth A. Polite Jr. of the Justice Department's Criminal Division said...

Cryptocurrency-based scams harm financial markets around the world by misleading investors and limiting the ability of legitimate entrepreneurs to innovate in this emerging space.

The department is committed to tracking money, whether physical or digital, to prosecute criminal schemes, hold fraudsters accountable and protect investors.

If convicted on all counts, Capuci will face up to 45 years in prison.

A cryptocurrency or cybercurrency is a medium of exchange, which can be centralized or decentralized, using blockchain technology and cryptography to ensure the validity of transactions and the creation of new monetary units.

THE Bitcointhe first decentralized cryptocurrency, was created in 2009 by a user who used the pseudonym Satoshi Nakamoto.

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