Crypto Fraud Scheme OmegaPro Defrauds Victims of $650 Million
Federal prosecutors have charged two men in connection with a massive cryptocurrency investment fraud scheme that defrauded victims out of more than $650 million. The indictment, unsealed in the District of Puerto Rico, accuses Michael Shannon Sims, 48, of Georgia and Florida, and Juan Carlos Reynoso, 57, of New Jersey and Florida, of operating and promoting OmegaPro. This global crypto-based multi-level marketing operation promised investors up to 300% returns over 16 months through foreign exchange trading.
“This case exposes the ruthless reality of modern financial crime,” said Guy Ficco, Chief of Criminal Investigations at the Internal Revenue Service. “OmegaPro promised financial freedom but delivered financial ruin.”…
