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Airbit Club Founder Pled Guilty over One of the Biggest Scams in the History of Cryptocurrency! Check Out…

Six people from the Airbit club, a cryptocurrency trading company have reportedly pled guilty to being involved in a Ponzi scheme of looting investors. The people involved in the scheme have defrauded hundreds of millions of dollars in the past few years. The fraudsters have finally pleaded guilty and each one of them will suffer heavy imprisonment for their faults.

Airbit Club Crypto Fraud

According to the United States Department of Justice, the company Airbit Club was a fake cryptocurrency and trading company. The company operated between 2015 to 2020. During this period, the company attracted many investors and collectively defrauded them of $100 million. The company owners assured the investors of guaranteed passive income and profits.

How did Airbit Grow?

Airbit founders and workforce traveled not only in the United States but also in Latin America, Eastern Europe, and Asia. They used to go to these countries and market their services for attracting more and more investors. They influenced people from around the world to participate and take an Airbit club membership. They marketed themselves during glossy expos and gained everyone’s trust.

Airbit Club
Source: Google

The company grew so much profit that it ended up as a fraud costing $100 million. They scammed users by asking them to invest in cryptocurrencies like bitcoin mining and trading. The users were told to check their balances on an online portal that later turned out to be fake.

Where did the Money go??

According to the reports, the culprits used all of the money for their personal expenses. They spent money on promoters and founders of the Airbit Club. Moreover, the fraud money was used for buying “cars, jewelry, and luxury homes”.

Who pled Guilty?

Six executives of the Airbit Club pled guilty including the co-founder. Here’s a full detail on people who suffered legal actions regarding the crypto fraud:

  1. Pablo Renato Rodriguez, co-founder of Airbit Club pled guilty on Wednesday (08 March 2023);
  2. Another co-founder Gutemberg Dos Santos pled guilty after being handed over by his native country Panama back in October 2021;
  3. Cecilia Millan, Karina Chairez, and Jackie Aguilar also pled guilty earlier this year;
  4. Attorney Scott Hughes pled guilty to helping the Airbit club association in a money laundering case.

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