Ormeus coin! A golden digital asset, a massive investment opportunity, and a grand example of everything the criptom industry has to offer the world.
As federal officials see it, a massive scam that suckered tens of millions of dollars out of hapless investors via fraudulent marketing.
John and Tina Barksdale, two of their siblings and a self-proclaimed cryptocurrencies marketer are facing federal securities charges in connection with their business. The siblings were charged by the SEC with defrauding their investors out of $124 million. The Justice Department announced multiple charges against John Barksdale, including wire fraud, conspiracy to commit wire fraud, and securities fraud. Both agencies claim that the duo used misleading and fraudulent marketing techniques to lure in investors to a coin that wasn't nearly as valuable as they claimed.
As alleged, Barksdale operated like a traveling salesman and peddled lies, overstatements, and misrepresentations regarding the Ormeus coin, which resulted in duping thousands of investors throughout the world.
According to officials, the Barksdales claimed that their business was supported by one of the largest mining operations in the world, and that the company was raking in between $5.4 and $8 million a month. The Barksdales said their token was a new digital money system backed by a fully-audited industrial crypto-mining operation.
Most of the claims were not true. The Ormeus mining operations never reached a million dollars per month, after drawing too little money. According to the DOJ, John Barksdale claimed to have $250 million worth of Bitcoin stored at the mining operation that would secure the token's value. The indictment states that the coins belonged to someone else. According to the indictment, Ormeus Global promoted misrepresentations and fabrications about the coin's value to encourage hapless investors to go all-in on the coin.
The Ormeus slogan is "out of many, one makes gold", which is ironic in light of the charges.
All Rights Reserved © 2024
