Four Men Charged in $80 Million Crypto Ponzi Scheme and Money Laundering Scam
Four men have been indicted and two arrests have been made in an $80 million pig butchering scheme, a type of scam that involves convincing victims to send money to fake investment platforms. The defendants allegedly used shell companies to funnel their profits to domestic and international bank accounts, including Bank of America and JPMorgan Chase, before moving the money to accounts in Hong Kong and a Bahamas bank linked to money laundering and a well-known stablecoin, Tether.