Houston man admits guilt in 2017 JASTBITME crypto-Ponzi operation
HOUSTON – A Houston man is facing 20 years in prison for running a fake investment operation using cryptocurrency.
According to the U.S. Attorney’s Office of the Southern District of Texas, Samuel Ayala-Ibarra, 45, pleaded guilty to running JASTBITME, a Houston-based company that promised high returns on cryptocurrency investments.
SEE ALSO: Cypress man who led cryptocurrency business accused of stealing millions in scheme
Court records said he set up fake documents to show growth and returns and used this to promote reinvestments to clients. However, the money these clients invested, prosecutors said, was actually used for personal gain and to repay earlier investors. He also paid others to recruit new clients.
A U.S. District Judge…
