law360 stacked 8 Backers of Crypto Co. Duped with Golden Lies, Jury Told

Backers of Crypto Co. Duped with Golden Lies, Jury Told

– The trial of Randall Crater, who owned My Big Coin Pay Inc., featured opening statements with dueling narratives.
– Assistant U.S. Attorney Christopher Markham told the jury that Crater lied for years about his business in order to trick investors into parting with their money.
– Crater said his virtual currency was backed by $300 million in gold, but in reality it was not backed by anything, Markham said.
– Crater’s lawyer, Brian T. Kelly, argued that investors knew they were risking their money when they invested in the cryptocurrency startup.
– The jury will now have to decide whether Crater is guilty of wire fraud, commodities fraud and money laundering.

law360 stacked Backers of Crypto Co. Duped with Golden Lies, Jury Told
Backers of Crypto Co. Duped with Golden Lies, Jury Told 3

Leave a Reply

%d bloggers like this: