Crypto Executive that Deceived Clients Pleads Guilty

News • 2020/10/03 • by

The U.S. Department of Justice released a statement on the 1st of October that Barry Thompson, a top official at Volantis Market Making has been found guilty of fraud worth over $3.25M.

He made a false claim to a firm from which he requested $3.25M to buy bitcoin via a third party in 2018. Despite Barry refusing to pay until the third firm, Audrey Strauss have sent the coin; a U.S. Attorney discovered that Barry transferred the funds without getting the BTC first, and the fund was never returned.

The DOJ explained that Barry gave a false impression that the business will be done via atomic swap and also deceived the company about the status of their money and BTC for days, in which none was recovered.

The accused pleaded guilty to a count of commodity charge with a sentence of about 10 years in prison and will be facing the court on the 7th of January, 2021.

Source: Cointelegraph.

Comments (6)

Guest

atikarani14

6 years ago

👍

godgrace1

6 years ago

that serves barry right, stealing is a sin, he should have been sentenced more than 10 years in imprisonment

exodusab

6 years ago

I this is a good Judgment, it would serve as a warning to all the internet frud stars, and all the fake exchangers, fake crypto sellers and and the projects that did not see light of the day.

freshprinx

6 years ago

he should face the music

omogbai

6 years ago

A good sign of warning to all scammers

visiblemoney

6 years ago

In my opinion, the third party is negligent for not verifying enough about the receipt of Barry's acclaimed transfer before making a BTC release of that whooping millions to him.