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Director Of Volantis Market Indicted On Cryptocurrency Fraud
Summary: Jon Barry Thompson director of Volantis Market, the Bitcoin escrow service, is facing several years in prison. This is do to charges stemming from cryptocurrency related fraud, according to The Next Web. Thompson is said to have taken over $7 million from 2 of the company’s victims. Thompson allegedly lied to investors about how safe ...
Jon Barry Thompson director of Volantis Market, the Bitcoin escrow service, is facing several years in prison. This is do to charges stemming from cryptocurrency related fraud, according to The Next Web.
Thompson is said to have taken over $7 million from 2 of the company’s victims. Thompson allegedly lied to investors about how safe their investments really were.
In Thompson’s promotion of Volantis he claimed that there was “minimized settlement default risk” in cryptocurrency transactions and that on “both sides of the transaction, there is no risk of default.”
According to Hard Fork, Thompson was indicted by the FBI on two counts of commodities fraud and two counts of wire fraud. The maximum sentence for commodities fraud is 10 years and the maximum for wire fraud is 20 years.
Tags: Bitcoin,Cryptocurrency,Fraud,Volantis,Volantis Market
Link: Director Of Volantis Market Indicted On Cryptocurrency Fraud [Copy]
