US Prosecutor’s Office Accuses Serbian Citizen of $ 70 Million Cryptocurrency Fraud

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A Serbian citizen has been extradited to the United States and will face trial on charges of $ 70 million in cryptocurrency fraud. He defrauded investors from several countries, including the United States.

According to a statement from the US Department of Justice, the fraudulent scheme consisted of attracting investments in binary options and cryptocurrency mining. Serbian authorities arrested 32-year-old Antonije Stojilkovic in July last year, and the FBI took him to Texas last week. He had five accomplices from Serbia and one accomplice from the United States.

Cryptocurrency scammers advertised binary options with an “average return of 80%.” In addition, they promised a 20% refund for every failed trade. In the advertisements, the scammers claimed that investors could “buy BTC at half the market price” on their cryptocurrency mining platform.

The Justice Department claims that Stoilkovich and his accomplices created the appearance of false trading activity, a history of withdrawal of money and fake electronic receipts. If convicted, they face up to 20 years in federal prison.

Recall that last week, the founder of the cryptocurrency hedge fund Virgil Capital Stephen Qin pleaded guilty to defrauding investors in the amount of more than $ 90 million. He used the money to lead a luxurious lifestyle.

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