federal prosecutor Suspect On Friday, a Nevada man helped swindle over $45 million from 10,000 investors by promoting a fake Metaverse project with a unique crypto token that will someday sell for trillions of dollars.
Las Vegas resident Brian Lee, 57, was nominated to replace him prosecution for its involvement in an alleged investment fraud called CoinDeal. Lee was charged with conspiracy, mail fraud, wire fraud, and criminal financial transactions. Indictments in the broader case date back to June last year.
Federal prosecutors claimed Lee worked with three other people to persuade investors that Coindeal was a legitimate group of companies working to develop virtual reality products. The indictment also said Lee and his co-conspirators were in talks with a potential “rich buyers coalition.”
CoinDeal organizers told investors they needed funds to cover operating costs until the sale materialized, and Lee and his co-conspirators promised a hefty profit. In fact, the scammers splurge on luxury cars and real estate, prosecutors said.
The superseded indictment alleges that the co-conspirators misrepresented the names of two billionaires as part of a potential buying group. Billionaire-1 is described as the founder and executive chairman of an “online retail company” and Billionaire-2 as the founder and CEO of an “electric car company”.
These two descriptions are consistent with the criminal’s profile, although the indictment does not name them. Amazon With founder Jeff Bezos Tesla CEO Elon Musk (though not actually the founder), two of the richest people in the world.
Prosecutors say Lee worked with Michael Glaspie, a Florida man who helped raise money for investors, at the direction of Neil Chandran, who “claimed ownership” of the conglomerate. It is said that
Lee was not nominated to the Securities and Exchange Commission in January Complaint. However, Chandran and Glaspie, along with five others, were indicted for their role in offering and selling unregistered securities in the CoinDeal investment scheme.
The prosecution also indicted another unnamed co-conspirator, “Individual-1,” for collecting and laundering funds for Chandran. The SEC has indicted Garry Davidson, a Nevada man who matches the description of Person-1.
Chandran was arrested and Paid Glaspie pleaded guilty to wire fraud in June 2022.
The SEC complaint calls Chandran a “convicted felon who is a repeat offender for securities law violations.” He and his backers “primarily targeted unskilled investors,” claiming his technology would be sold for “trillions of dollars” to a bogus consortium backed by billionaires, the SEC said. claimed.
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