The duo allegedly used lavish events in Dubai and luxury exhibitions to lure investors into a fake forex system that collapsed in 2023.
In summary
Federal prosecutors have accused two OmegaPro executives of running a $650 million cryptocurrency scam disguised as a forex investment platform.
The pair allegedly used lavish events and false promises of 300% returns to attract investors from around the world, then froze withdrawals at the end of 2022.
The Justice Department case follows a broader crackdown, including last month's conviction of the founder of Gotbit for inflating token volumes through wash trading.