Four individuals have been charged in Los Angeles in connection with a money laundering scheme related to crypto investment scams. The scheme involved a 'cattle Ponzi scheme' worth $191 million and an '80 million pig butchering' scam. The defendants enticed investors with promises of making money raising cattle without doing the work and sweet-talked victims out of their digital assets. The alleged international pig butchering crypto scam resulted in more than $80 million in losses for victims. The SEC revealed that a Texas meat company, Agridime, ran ads promising annual returns of 15% to 32%, which turned out to be a scam. The Justice Department announced the charges on Thursday.
An alleged money laundering scheme involving the proceeds of crypto investment scams has resulted in charges against four people in Los Angeles, @TheJusticeDept said on Thursday. https://t.co/daMFlYYwK3
Los Angeles federal prosecutors said four indictments and two arrests had been made in an international "pig butchering" scheme. https://t.co/MXu4QqYIz0
Four Charged in Connection With $80m Pig Butchering Scheme https://t.co/G2eQXtMmPl
An alleged money laundering scheme involving the proceeds of crypto investment scams has resulted in charges against four people in Los Angeles, @TheJusticeDept said on Thursday. By @JamieCrawleyCD https://t.co/6Og98Z1KUb
Four indicted in multimillion-dollar ‘pig butchering’ crypto scam https://t.co/8fcfFVc5xF
Four accused scam artists are charged in an alleged "pig butchering" scheme that bilked victims out of more than $80 million, officials say. https://t.co/pNb3lF1t9X
Texas Meat Company Agridime Milks Investors in $191 Million Cattle Ponzi Scheme, the SEC Says The company ran ads promising annual returns of between 15% and 32%, saying: 'We know it sounds too good to be true' ... and the @SECGov said it was. h/t to @EconomyBen for the…
The US DOJ announces four indictments and two arrests have been made in an alleged international pig butchering crypto scam that cost victims $80M+ (@rogoswami / CNBC) https://t.co/zk9QMby5xv 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/xqa0Os4bLx
In the USA, $80 Million Crypto Scam Using the ‘Pig Butchering’ Method https://t.co/UupEkvfwUx
Four men indicted in $80 million 'pig butchering' scheme https://t.co/rVu6tjF9vz
Four men indicted in $80 million 'pig butchering' scheme https://t.co/ClFonuUFAc
An alleged money laundering scheme involving the proceeds of crypto investment scams has resulted in charges against four people in Los Angeles, @TheJusticeDept said on Thursday. By @JamieCrawleyCD https://t.co/1Hs4j653Vm
The $191M cattle ponzi scheme.🐮 “The defendants enticed investors with guarantees that they could ‘make money raising cattle without having to do all the work’" https://t.co/FwcKdFEZKU
"Cattle Ponzi scheme"? - @matt_levine should have fun with this one 🐮🐄 https://t.co/DHhVObAdfX
Crypto’s pig butchering scammers have found a new way to sweet-talk victims out of their hard-earned digital assets, according to @chainalysis. https://t.co/s3ty1JYpe4