streamoors
Celestia
Injective
Pudgy Penguins
NEAR Protocol
Pearl
Starknet
- victims asked to invest in AirBit club investment schemes in cash
- AirBit Scheme promised victims to earn daily returns on any membership purchased
Dos Santos, a citizen of Brazil and the United States and Co-Founder of AirBit Club, a cryptocurrency mining and trading company has been extradited from Panama on November 25. He along with his co-defendants Pablo Renato Rodriguez, Scott Hughes, Cecilia Millan, Karina Chairez and Jackie Aguilar has been charged with frauds and money laundering.
The charges are put on them involves defrauding individuals through investments in AirBit Club. Dos was arrested in Panama City on August 18, 2020, and is presented before the U.S. Magistrate Judge Katharine H. Parker on November 30, 2020. The case has been given to U.S. District Judge George B. Daniels.
Acting U.S. Attorney General Audrey Strauss applauded HSI on arresting Santos, who was the mastermind of the international scam in cryptocurrencies. According to the press release by U.S. Attorney General, the victims were lured to invest in AirBit club investment schemes and had guaranteed profits on their investments. They have been asked to invest in cash as a club membership to avail the benefits of the investment schemes. AirBit was marketed as a multilevel marketing club in the cryptocurrency industry in 2015 by its founders. The victims were informed that the club is dealing into cryptocurrency mining and trading, which will, in turn, would help the victims earning daily returns on any membership purchased.
The perpetrators organised expos, community presentations to convince the victims to purchase a membership from the club. They were also lured to purchase the membership in cash and provided the victim with access to AirBit Club portal to view the returns on membership. However, those representations were negative and people lost their hard-earned money.
It is to be noted that the victims who have attempted to withdraw the money from the club’s portal and complained to the founder were met with excuses, delays and hidden fees amounting to more than 50% of the victims’ withdrawal. Nevertheless, the victims were not able to make any withdrawals. In April 2020, another victim had received a letter from the club mentioning that his account is closed and the principal amount is lost. This has happened due to financial sustainability reserve, #34 of the club’s terms and conditions. Another reason that was given to the victim was the financial crisis due to COVID-19.
It is not the first time that Santos has been charged with fraud. He has been charged with many frauds like wire fraud, bank fraud, money laundering. Each charge carries a term of either 20 years or 30 years in prison.
