Bitcoiin Crypto Investment Scam, Man Sentenced To Prison For 5 Year

A man from California, pleaded guilty for his activities in a fraud Investment scheme. Now this person will be sentenced to bars for the next 5 years maximum.

Californian citizen mr. John DeMarr was arrested in January 2021. He was accused by the U.S prosecutors to be involved in an Illegal Investment plan by endorsement of celebrities. 

With DeMarr, there were two people who were charged by the SEC in 2020. 

According to the prosecutors, these three people were running a scheme under the name B2G. B2G became popular in 2018. B2G also known as Bitcoiin, which was specially based on ICOs craze. Their main intention was to keep investors around their scheme. 

To attract Investors, they brought endorsement of a popular actor in their project. The name of the actor is Steven Seagal. Actor didn’t yet admitted that he received money for a B2G company but neither he refused but failed to disclose the amount he received. 

According to allegations, B2G didn’t allow users to withdraw the token fund after the due date; rather they ordered their Investors to roll out their accounts into an unregistered account for ICO.

Well right now, DeMarr is under the charge & over Investigation still going on, so the prosecutors can decide a fine & charges against DeMarr. Right now according to the SEC, DeMarr will be sentenced to prison for a maximum of 5 year and they are doing further investigation also, so that they can clarify the whole case at a better level.

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