The post Fake Crypto Trader Admits to Gambling Away $293k in Investor Money at Casinos appeared first on Vegas Slots Online News.
A crypto trader allegedly spent more than 1 million Belarusian rubles (US$293,387) of investor money gambling at casinos in Belarus. The unnamed 30-year-old is now facing significant fraud charges.
He allegedly duped people into giving him money to invest in cryptocurrency opportunities that he claimed were guaranteed to be risk-free. Instead of actually investing all the funds, he gambled most of it away at Minsk casinos. Only one of the crypto trades he actually placed was profitable.
tried to keep up the charade for a while by making sporadic interest payments to victims
Law enforcement believes he took money from at least ten victims. He tried to keep up the charade for a while by making sporadic interest payments to victims and even got his girlfriend to take out a car loan so he could pay out some “dividends.”
Prosecutors believe more victims are out there and called on them to come forward with any information. The suspect admitted to police during interrogation that he was trying to win money at casinos to repay investors.
The post Fake Crypto Trader Admits to Gambling Away $293k in Investor Money at Casinos appeared first on Vegas Slots Online News.
