The US Department of Justice (DOJ) says Michael Ackerman, who is at the heart of a fraudulent investment scheme for millions of dollars in cryptocurrency, has pleaded guilty. Ackermann admitted that he caused more than USD30 million in losses to the victims of the scheme.
Ackerman had set up a cryptocurrency investment fund and promised investors that the money would then be used to invest in and trade bitcoin and other cryptocurrencies. Instead of investing and trading on behalf of the Fund, Ackerman stole at least USD9 million from investor’s money.