Today, US authorities filed criminal charges against a cryptocurrency executive, and his sister. Apparently, the executive, John Barksdale, lied about the value and profitability of Ormeus Coin, a digital token. He is accused of defrauding investors out of millions of dollars. He also lied that the coin was backed by a mining operation with over $5 million monthly revenue. According to the SEC, the Barkdales raised $124 million since 2017, and used millions on travel, real estate, and other personal expenses. John Barksdale could face up to 65 years in jail.
Source: https://www.theguardian.com/technology/2022/mar/08/john-jonatina-barksdale-cryptocurrency-charges-ormeus-coin-new-york
