Florida man charged with scamming investors out of $6.8M in crypto trading schem

[pawanjain]

I would rather say it is the investors fault because they transferred the money to his account without properly researching on him and trusting him so easily.
Yeah I know it must be tough to find it out since the guy used fake statements but we must know that anybody can use a photoshop to create fake images and statements.
This is why we should not trust anybody on the internet since it is filled with fake people.

[wxa7115]

Also:

Gity created the portfolio statements by using a mobile phone application called Coin Stats. Specifically, Gity manually entered purported balance and profit information from the
digital asset trading accounts into the Coin Stats application and then took screenshots (“Screenshots”) on his mobile phone of the portfolio statements, which displayed the information
he entered. He sent the Screenshots directly to investors via text message or, in some cases, asked Investor to do so on his behalf.

So they gave this guy millions and they were happy with screenshots sent on mobile, I wonder how these people still had that much money if they were so easy to fool.
Check the last page of the complaint, that's the proof he sent to investors.
Sometimes I really can't believe how easy some people are tricked to hand out such large amounts and how long it takes them to understand something is not going the right way, nor how little attention they pay to details or the amount of research they do before that. And for every person that learns a lesson, there are a hundred waiting in line to get scammed.

In my experience people deceive themselves rather than to be deceived by the person right in front of them, obviously he was a skilled manipulator and he played his cards right, however it is obvious to me those people were looking for a quick profit and they most likely had already visited many different investors and traders which told them the truth, there is risk of losing money in the markets and they should not expect past performance to indicate future performance, as such those people probably did not trust those traders telling the truth and they began to look for a person that could guarantee them profits.

But we know that is not possible and the only ones that can do that are the ones that never had any intention of giving profits to them on the first place.

[MCobian]

It turns out that there are still many people who trust others to handle their funds. Especially in trading you have to be careful about
trusting other people, to get profit from trading. Because if there really is someone who has good trading skills, it is impossible to use
other people's funds to make a profit. Better to use your own funds to make a profit, because the profit does not need to be shared with
other people. The conclusion is if someone shows the trading results he made, and receiving someone else's funds to be promised the
same profit, most likely that person is a scammers.

[Mahanton]

Per the complaint, Gity told investors he would use their funding to trade digital assets, but only transferred $970,000 of the $6.8 million he received into trading accounts. Gity allegedly transferred over $1.8 million of the funds to his son and for personal expenses and gambling.

People never ever learn and how the hell they do really end up on trusting up someones for them to handle out their funds just for them to expect some returns of their investment.
I cant believe that it did really reach out $6.8M and this signifies that there are lots of fools who do still believe on quick profits or passive income on letting others do handle out their
money to grow via trading.This would be a lesson learn for them because things doesnt work as they do anticipate.For the suspect or fraudster then its just right for him to face
up consequence and hopefully this one shouldnt have bail so that we wont able to get out. 

There's no scammer if every people is aware of their deceiving tactics, most common problems on every prey they had was they easily trust someone. Let's motivate ourselves from now on that never put confidence at any stranger who offers any kind of investment schemes, regardless if it's crypto or fiat money business. Studying trading and other sustainable business will surely boom in the future if you're not getting tired of working hard, and that's the best strategy to beat possible fraudulent people to brainwash you for their evil acts.

Not all people do have that kind of mentality where they do like to get profits on easiest and effortless as possible thats why they do want these easy things in life which would really fall into the hands of scammers.
This cycle or event would continue as long human beings are being too greedy and too lazy thats why they decide on letting other people do handle out their funds without even having second thoughts that they might be scammed.I cant imagine that there are still scammers earning millions of dollars which signifies that there are still lots of fools and numb people into this market.Good thing that these scammers
had been traced up and been charged into those consequences which serves them right!

[Salauddin1994]

It is foolish to rely on others for crypto trading if you have enough knowledge and skills then use your own funds to do business without having to fall prey to scammers it is possible to make a profit effortlessly. In the case of lazy people this happens more often as they come to earn more dollars and use the funds without relying on others when it comes to investing use your own funds and trust the work.

[Yatsan]

The problem was already pretty obvious in here. People just literally making other people do manage their funds and get along with their promising words of making their funds be more profitable by letting other people do the job of doing the trading works for them. With such proposal, it is clearly that something is up with that person asking them to do a favor for them which is already a suspicious proposal well as for my perception. Those kind of people are literally being fooled because it seems like they know nothing and have just fall into the scam scheme trap. If you do really want to make profit using trading, better make use of your own self to do the trading and do not certainly let other people do the job for you.

[CODE200]

People do really want a fast phase income letting other people do the job for them and ending up to get fooled or get scammed for trusting someone to get into their funds and expect to make a trustful trade for them. It should be expected that you must not get into such action for you supposed to be be the one to do your trading and not to take any proposal coming from someone to do trading for you. If you wanted to earn by trading, do it by your own for no one can be trusted to do that for you. Do not let other people do have an access to your funds because of a promise that he will make it profitable by doing trades because it is a clear scam to easily obtain your money. It is safe for you not to do such and better do just educate yourself so you can do trading by your own.

[Oilacris]

The problem was already pretty obvious in here. People just literally making other people do manage their funds and get along with their promising words of making their funds be more profitable by letting other people do the job of doing the trading works for them. With such proposal, it is clearly that something is up with that person asking them to do a favor for them which is already a suspicious proposal well as for my perception. Those kind of people are literally being fooled because it seems like they know nothing and have just fall into the scam scheme trap. If you do really want to make profit using trading, better make use of your own self to do the trading and do not certainly let other people do the job for you.

Its simply that they are just lazy to do the work and instead they do decide to let others do the hard work and they do just like to receive something easily as profit.

This isnt new and there are lots of people whom do still believe that this do actually work and profitable thats why there are still lots who do get victimized and cry later on when
they do realized that they had been scammed.

They had been warned and suggested to stay away but never ever listened yet they wont learn a lesson if they dont experience loss.It isnt really necessary
but this had always been the case.

[lixer]

While I was reading the article I was laughing hard when I heard that the investors invested under the guy because he said "high-profitable asset trader who never lost money during a trading day". I mean are the investors really kids? Either they are rich kids or they never had the knowledge that if any method was there and if there existed a system where he can always profit without having ANY chance of loss then he would have made millions and potentially taken a loan from banks.

He even tricked them into believing that he is trading 100 millions of dollars and later it was found that he moved a part of the funds for his gambling addiction lmao .

[stompix]

~

Better believe it. People who seem to have the most money, in my experience, don't seem to be very smart about it. They just started off with a lot of money already, and used it to make even more, and then so they don't have the same feeling towards it as some of us who save money and work hard just to build a nest.

That's the part I was wondering a bit, I mean those people, in this case even knowing each other close enough to have reunions face to face managed to land some successful investments to date, as they did make money and they worked with each other previously and yet, out of the whole bunch nobody was alarmed for almost a year and though a few graphs that were done with a free app send via WhatsApp is enough and slept nicely after handling millions. They acted way to stupid, if they would have done the same on previous occasions they would have been already poor.

~
In my experience people deceive themselves rather than to be deceived by the person right in front of them, obviously he was a skilled manipulator and he played his cards right, however it is obvious to me those people were looking for a quick profit and they most likely had already visited many different investors and traders which told them the truth, there is risk of losing money in the markets and they should not expect past performance to indicate future performance, as such those people probably did not trust those traders telling the truth and they began to look for a person that could guarantee them profits.

Ok, I understand and is a fact that there are people who are easily deceived, the case and the documents are clear, there are!
But, but...but!  I still refuse to understand why they got tricked so easily by a single person with an LCC with no activity! Greed? Ok! But once you have millions to invest are you simply though in money out of greed at anyone that is convincing enough? I understand the cases of people with poor education getting scammed in Ponzi schemes they don't understand, but this was a group, seasoned investors, this wasn't their first rodeo so to say...

How can I say it, I know it happened, I know it will happen again, but I refuse to accept it!   

[RealMalatesta]

Exactly what I thought, if you see someone who claims that they have not lost a single cent in trading and has always profited, you should know that it is a big lie, there is no person in the world who has traded perfectly without any loss, unless that person had just one trade and that was a profit, they will eventually lose.

Real trades makes their profit by being right more than they are wrong, obviously there will be times when they lose money but if they actually end up profiting more often that means they are going to end up with more money in the long term. You could even have weeks or months where you are down but as long as you profit in the long term you are successful, or you could just simply be a bad trader. But, there is literally zero person who trades constantly and never loses.

[slaman29]

Better believe it. People who seem to have the most money, in my experience, don't seem to be very smart about it. They just started off with a lot of money already, and used it to make even more, and then so they don't have the same feeling towards it as some of us who save money and work hard just to build a nest.

That's the part I was wondering a bit, I mean those people, in this case even knowing each other close enough to have reunions face to face managed to land some successful investments to date, as they did make money and they worked with each other previously and yet, out of the whole bunch nobody was alarmed for almost a year and though a few graphs that were done with a free app send via WhatsApp is enough and slept nicely after handling millions. They acted way to stupid, if they would have done the same on previous occasions they would have been already poor.

I guess it's really a case of a different mentality, which, as I believe is bred from the way that wealth was made in the first place. I could be wrong but the reason I feel so careful about my money is because I earned very little and saved very little and worked very hard to have it, so when I want to do something with it, it makes me think about all the hours and years I put into it, and don't want to risk anything I'm not even 100% sure about. How people can sleep with millions at stake, I'll never be in that mentality.

[chip1994]

these are the common scams on Twitter, scammers often praise each other and make new people feel confident and then scam their money.
In order for this not to happen, everyone remember that money is not easy to make. With labor, we have money, no one will do anything for free. especially for the crypto market, which is rife with scammers and criminals.

[wxa7115]

~
In my experience people deceive themselves rather than to be deceived by the person right in front of them, obviously he was a skilled manipulator and he played his cards right, however it is obvious to me those people were looking for a quick profit and they most likely had already visited many different investors and traders which told them the truth, there is risk of losing money in the markets and they should not expect past performance to indicate future performance, as such those people probably did not trust those traders telling the truth and they began to look for a person that could guarantee them profits.

Ok, I understand and is a fact that there are people who are easily deceived, the case and the documents are clear, there are!
But, but...but!  I still refuse to understand why they got tricked so easily by a single person with an LCC with no activity! Greed? Ok! But once you have millions to invest are you simply though in money out of greed at anyone that is convincing enough? I understand the cases of people with poor education getting scammed in Ponzi schemes they don't understand, but this was a group, seasoned investors, this wasn't their first rodeo so to say...

How can I say it, I know it happened, I know it will happen again, but I refuse to accept it!   

I understand where you are coming from but...

https://www.azquotes.com/quote/298606

We are trying to find an explanation about why this happened by using logic and common sense when the people involved on this obviously did not used anything resembling logic to make their decisions and they were driven by their emotions, so any explanation that we may try to give to this incident will always fall short, sometimes we just need to accept we will never really know why something happened, it is sad but it is the only satisfying conclusion I can find.

[FanEagle]

Lmao, I guess he’s addicted to gambling. Maybe he thought that he was going to use the $1.8 million to gamble and then get filthy rich, enough to pay back the investors, then he will start living the millionaires lifestyle lol, and having his holidays at the beach.

People shouldn’t be believing whatever they are told easily. People can just fabricate anything and tell you it’s the truth. So it’s good to be very careful. And moreover, how did he ever think that he was going to escape after committing such a crime?

Well, now he’s got to pay for the crime he has committed.

[bitgolden]

Scams derives from building trust and if you could build trust and people can give you their money with that trust, you are done, you can scam anyone you want.

There is nobody in the whole world that would give their money to someone they do not trust, how could you get scammed if they think you are a scammer to begin with? This dude and all those twitter ones work hard to build a trust and the main way to do that is sound confident, there is a reason why it is called a confidence trick because if you ooze confidence and talk all certain about what is going to happen that means you could actually achieve what you are promising to achieve, that is how it looks. You can do this with cash, credit, any fiat, or crypto it doesn't matter how you do it but the method is the same one everywhere.