INSUBCONTINENT EXCLUSIVE:
Former rugby player Shane Donovan Moore was sentenced to two-and-a-half years in a US federal prison for defrauding more than 40 investors
out of $900,000 in a crypto mining Ponzi scheme.According to a Thursday Department of Justice announcement, Moore operated Quantum Donovan
LLC from January 2021 to October 2022
Through the company, he reportedly defrauded over 40 investors out of more than $900,000.While promoting the scheme, Moore claimed that the
funds raised would be spent on cryptocurrency mining hardware
with fraud as far back as March 2024
reportedly used investor money to fund a lavish lifestyle
He purchased luxury apartments, designer luggage, and electronics, using new investor funds to repay earlier ones, typical in Ponzi
is far from the only one in which crypto was leveraged to lure victims into a scam or a Ponzi scheme
In mid-February, a US regulator charged a Las Vegas man with allegedly defrauding over 400 investors out of $24 million through a misleading
AI-driven crypto mining investment that was a disguised Ponzi scheme.Incidents and losses in 2024 by month
Source: CertiKIn late January, Antonia Perez Hernandez, a promoter of the forcount crypto Ponzi scheme who pleaded guilty to conspiracy to
