Three individuals have been jailed over their involvement in a global fraud and money laundering operation linked to the AirBit Club crypto scheme.
The Department of Justice has revealed in a press release that Scott Hughes, an attorney who played a significant role in laundering around $18 million in fraudulent proceeds from AirBit Club, has been sentenced to 18 months in prison.
Cecilia Millan and Karina Chairez, both senior promoters of AirBit Club, have been sentenced to five years and one year plus one day, respectively. Earlier, Pablo Renato Rodriguez, co-founder of AirBit Club, was given a 12-year prison term.
All these sentences are part of the defendants’ guilty pleas. They have been ordered to forfeit their illegally obtained assets, totalling around $100 million, which include US currency, Bitcoin, and real estate.
U.S. Attorney Damian Williams underscored the crucial role these individuals played in the pyramid scheme. He emphasized the importance of holding everyone involved in crypto investment schemes accountable for their actions.
The scheme, which started in late 2015, falsely guaranteed investors profits through cash investments in club memberships. AirBit Club was promoted as a crypto multi-level marketing venture that claimed to generate returns from cryptocurrency mining and trading. However, victims encountered difficulties withdrawing their funds and faced hidden fees.
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