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SEC charges 'snake-oil salesmen' siblings with $124M crypto fraud

2022/03/09 01:30

According to Decrypt, the SEC today hit “modern-day snake-oil salesmen” siblings with charges for allegedly defrauding investors out of $124 million with a phoney cryptocurrency.
John and JonAtina (Tina) Barksdale conned thousands of investors with their digital token Ormeus Coin, the SEC alleged in a statement Tuesday. The siblings offered Ormeus through crypto exchanges, the SEC said, and promoted it via YouTube and roadshows around the world.
The coin’s website says that exchanges HitBTC, PancakeSwap, Uniswap and others offer the coin. Ormeus, according to its website, runs on Ethereum, and is purportedly powered by “green energy.”
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