Manhattan Man Faces DOJ Indictment for $43M Crypto Fraud: Ponzi Scheme Involving Fake Coin Exposed

• The U.S. Department of Justice (DOJ) has indicted a New York man, Idin Dalpour, for allegedly running a multi-year Ponzi scheme involving cryptocurrency trading and hospitality businesses.
• Dalpour is accused of defrauding investors of at least $43 million between 2020 to April 2024.
• If found guilty, Dalpour could face a maximum sentence of 20 years in prison.

A New York man faces charges for allegedly running a Ponzi scheme involving cryptocurrency trading, defrauding investors of millions over several years.

Details of the Alleged Ponzi Scheme

According to the indictment, 39-year-old Idin Dalpour lured victims into funding his hospitality enterprise with a promise of lucrative returns starting at 42% interest per year. He assured investors that their money was insured. Dalpour is also said to have falsely claimed that he bought cryptocurrencies wholesale and sold them at a profit to retail investors.

Use of Investors’ Funds

It is alleged that Dalpour did not actually use the investors’ funds as promised. Instead, he paid earlier investors their supposed returns using funds from later investors. The DOJ says Dalpour eventually defrauded investo... Read the full article for FREE at COINOTAG!