RATE Group | Cryptocurrency Executives, Investors Scammed to Buy Ferrari
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Cryptocurrency Executives, Investors Scammed to Buy Ferrari

12 Dec Cryptocurrency Executives, Investors Scammed to Buy Ferrari

Posted at 19:35h in Cryptocurrency News by

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A Pennsylvania man was indicted for his role in an alleged plot to steal cryptocurrency through a “SIM swapping” tactic to buy luxury items such as a Ferrari, Rolex, and other luxury goods, according to court documents unsealed in the Northern District of California.

Anthony Francis Faulk was charged with conspiracy to commit wire fraud and interstate communications with intent to extort in connection with the alleged fraud, which federal prosecutors say targeted investors and executives at crypto-companies. The co-conspirators allegedly gained control over cellphone numbers and accessed victims’ cryptocurrency accounts to extort them.

“Faulk and others used fraud, deception,…

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