The U.S. Department of Justice seized 482 BTC and 1.72 million USDT from a fraud project.
The US Department of Justice seized $ 6.5 million of crypto money from the manager of the fund called Banana Fund, on the grounds that it was a Ponzi, a fraud organization.
According to the information in the file, the fund manager is not a US citizen and his identity is still unknown. According to the investigation file, including the US Secret Service, the fund manager used the money of customers who invested in the Banana fund for their personal transactions. In the end, he bought a house for himself with the earnings from these coins. The address registered to the banana fund belongs to a house in Toledo, Spain.
Investments reached 557 Bitcoin and 1.73 million USDT
The surplus of investments in the fund surprised. The fund manager announced that the investments made for a period reached 557 BTC and 1.73 million USDT. The Ministry of Justice managed to save 482 BTC and 1.72 million USDT of this money. “As a result, the US Secret Service also issued a seizure order for funds and initiated the reimbursement process for the victims of the manager,” the ministry statement said.
The writings on white paper never happened
The manager, whose name was not announced, started crowdfunding in 2016, namely the funding of a project or initiative by a large number of people, and used Bitcoin to finance their projects. On the other hand, the US Department of Justice informed that what was described in the white paper of the project never occurred for the token. According to the file, Bitcoin investments made to the fund have been continuously transferred to 4 units and was cleared here.
When he said “no money left”, he had 11 million dollars in his account!
Until 2018, the website of the Banana Fund was determined that the project was unsuccessful and directed to a Google Docs page owned by the manager. The manager requested that investors enter their address information so that they could get their money back, but stated that he could only repay $ 1.7 million. According to the U.S. Department of Justice, the manager continued to trade even at that time, and his account had about $ 11 million.
The ministry states that the funds are completely under the responsibility of the ministry on the grounds that it is a deliberate fraudulent crime.