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California Man Pleads Guilty To Soliciting Investors For $722 Million Crypto Mining Scam

Emily Mason

Summary: A California man pleaded guilty to soliciting investors for a $722 million cryptocurrency mining scheme, as reported by Bloomberg. Joseph Frank Abel pleaded guilty to charges of conspiring to offer and sell unregistered securities and subscribed to a false tax return. He was charged along with four co-defendants in December 2019. His fraudulent organization, BitClub Network, ...

A California man pleaded guilty to soliciting investors for a $722 million cryptocurrency mining scheme, as reported by Bloomberg.

Joseph Frank Abel pleaded guilty to charges of conspiring to offer and sell unregistered securities and subscribed to a false tax return. He was charged along with four co-defendants in December 2019.

His fraudulent organization, BitClub Network, solicited money from investors in exchange for shares in cryptocurrency mining pools and rewarded members for recruiting new investors. Abel will be sentenced on January 27.

By Emily Mason

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Tags: BitClub Network,Crypto Mining Scam
Link: California Man Pleads Guilty To Soliciting Investors For $722 Million Crypto Mining Scam [Copy]

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