2018 ICO Scammer pleads guilty to $7 million Covid-relief loan scam

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Scammers continue to plague the cryptocurrency industry as the majority of the masses remain unaware of what cryptocurrencies are and how they work. Initial Coin Offerings were one such part of the crypto market where scammers thrived. Now, it has been reported that one such ICO fraudster was able to amass more than $7 million using fraudulently obtained covid relief loans.
According to an April 20 announcement from the U.S. Department of Justice (DoJ), 24-year-old New York res…

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