Crypto fraud duo sentenced to 12 Years for £1.5 million scam

[_act_]

The scammer will cold-call victims, direct them to a professional looking website. The website of fake investment with high yield return like the ones we have seen before on this forum but which we know are scam.

Cold-calling means their victims did not know them before and they offer the investment of high yield return. Easy to know they are scammers but some people are ignorant and lack the knowledge to know that they are scammers.

According to the news, they scammed at least 65 people and earned £1.5 million ($2 million) from the victims. The money is sent or laundered to companies they operated, including Astaria Group LLP, CCX Capital, and authorized clones of Ian Buckley Financial Services and Capital Partners Group.

According to other sources, one of the scammers has been sentenced to five years and four months in prison, the other scammer was sentenced to six years and six months in prison.

https://www.ainvest.com/news/crypto-fraud-duo-sentenced-12-years-1-5-million-pound-scam-2507/

[justinlamode]

The scammer will cold-call victims, direct them to a professional looking website. The website of fake investment with high yield return like the ones we have seen before on this forum but which we know are scam.

Cold-calling means their victims did not know them before and they offer the investment of high yield return. Easy to know they are scammers but some people are ignorant and lack the knowledge to know that they are scammers.

It is now obvious that greed is the main reason why some people get scammed and in this incidence, greed is just the reason. People want to make huge profits overnight that is why they will put money into something like this, an investment platform of people they know nothing about just because they promised them big return.

Well, the scammers got what they deserve and let it serve as a deterrent to others. 12 years in prison is a good punishment for them and when they return, they have no choice than to turn good citizens.

[btcltcdigger]

Ah yes, i get those call on occasion. Usually it's people, but sometimes you can see it's a bot on the other side as well.
6 years is too lenient. I would do the 20 year hard labor for these mofos. Scamming people, looking them in the eye and just.... bah.
Any scam requires a much harsher sentence

[Sticky Bomb]

Cold-calling means their victims did not know them before and they offer the investment of high yield return. Easy to know they are scammers but some people are ignorant and lack the knowledge to know that they are scammers.

This is where they always fail it, every investment of high yield withing a very little time frame is an obvious scam cooking, people are very greedy and insensitive in their decisions to patronize these investment platforms.

Another good virtue is always to try verifying the authenticity of their identities, I have been called for a job opportunity and when I got the details of their proxy companies, I searched for them and the names they gave me contradicted those on the company official website and LinkedIn page. I you can spare a minute or two to verify both certificates, existence and authenticity of identities tendered by anyone offering you an opportunity and even their communication channels, you can be sure to skip about 90% of scam attempts.

[CryptoYar]

This is common investment scam where criminals cold call people and lure them with professional looking fake websites promising huge returns  which are mostly too good to be true. These scammers succeed because some victims do not have financial knowledge to spot red flags.

Scam which you mentioned in which stole £1.5 million from at least 65 people by laundering money through fake companies. And some scammers have been jailed this type of fraud continues showing that people need to educate their self to protect themselves from these damaging schemes.

[LogitechMouse]

The scammer will cold-call victims, direct them to a professional looking website. The website of fake investment with high yield return like the ones we have seen before on this forum but which we know are scam.
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According to other sources, one of the scammers has been sentenced to five years and four months in prison, the other scammer was sentenced to six years and six months in prison.

https://www.ainvest.com/news/crypto-fraud-duo-sentenced-12-years-1-5-million-pound-scam-2507/

I always tell to myself and to other people this phrase when it comes to investing. "If it's too good to be true, it's not true." The fact that it has the phrase "high-yield return" is already a red flag for me therefore, it's a scam. Always be vigilant, and think twice whenever you're investing especially into these kind of scams. Learnings really are very expensive. You need to lose hundreds, thousands or even thousands of dollars just to learn which are scam and which are not.

As for the sentence, I believe we need a harsher sentence for these 2. I mean 64 and 78 months in prison? That's too low IMO. For me, a scammer will always be a scammer and as long as they know how to scam people, what they will just do whenever they release from jail is to hide themselves while scamming newbies. The sentence is too short if you will ask me, and they need to be in jail longer.

[EluguHcman]

It is quite emotional learning that most of these scam victims just end up loosing their monies to Scammers.
Some struggles heartedly and timelessly to raise those funds just to make sure they gather the money to invest and everything just happens unfortunate like a nightmare out of their lack of knowledge of identifying those scamming schemes.
Some are quite victimized out of greed just like as those duo scammers brought the picture of high rate returns if Investors on their directives.

The FCA has been focussing on crypto cases and has lengthy list of cases involving false advertising of Crypto investment

I like the extra miles the UK court being able to processes numerous of the scamming tactics and presented them to the vulnerable so it would help them in future time to be experienced and be able to identify related scam schemes.

As for the scammers, that was really a huge sum of money which of by my judgement they would wrath in jail. 5 years and 6 years seem too considerable. So if greater judgement would be served to these scammers I think others will fear and step back from those evil doings. Short term imprisonment look like a a bearable deal for them.

[Justbillywitt]

You see the reason why scam will not stop and scammers will never stop scamming is because of these types of sentencing. What is 5 years and 4 months and 6 years with 6 months. If scammers keep getting soft sentencing like this, why will others not keep trying to scam? Because at the end of the day, they will draw a lenient sentencing. Had the judge slammed like 70 to 80 years or possibly sentence them to death, it would have served as a lesson to others who are in the field of scamming. This will make scammers to be scared because if you are caught, you are gone. This will make scam to reduce drastically. But when you give scammers like 5 to 6 years for fraud, is like you are encouraging others.

[Trêvoid]

It’s really sad to see so many people still falling for these obvious high yield scams and sites, but at least justice was served this time. Hopefully, stories like this will remind others to always double-check investment offers...

[Aanuoluwatofunmi]

The scammer will cold-call victims, direct them to a professional looking website. The website of fake investment with high yield return like the ones we have seen before on this forum but which we know are scam.

We should learn how we can take a run in checking for genuine websites, avoid malicious links and also carefully navigate through the internet without going outside the boarders, where we can get entangled by any scam related attempts in their various formats.

Cold-calling means their victims did not know them before and they offer the investment of high yield return. Easy to know they are scammers but some people are ignorant and lack the knowledge to know that they are scammers.

Majority of the greedy ones will fall under this kind of scam, because it could be promising on high return as well as coming on a fast pace.

[Odogwu-Blockchain]

How could 65 people generate 2 million dollars to a fake DeFi platform, that's insane. These investors wants so much quick money like that?

For each of them to invest high amount of money means they are rich dude gotten their money off a non crypto firm before, maybe their first time trying crypto yielding mechanism which left them unlucky, never knew PR on yield is always too low for it to be true.

[mich]

Well I do not like the scammers and it is good they are sentenced for 12 years in jail. I do not think it is long enough because he can come out and do another scam.

And maybe he will not have to do all of those 12 years. If he does have a good behavior I think he will come out of it sooner then that. These greedy scammers will not stop the scamming until they do have a very long sentence.