Federal prosecutors aim to forfeit the 7.1 million USD as part of a civil action against an investment scam that garnered 97 million USD from victims. The scheme operated between June 2022 and July 2024, allegedly involving individuals from Russia and Nigeria.
Geoffrey Auyeung has been indicted for money laundering, using stolen funds to acquire Bitcoin, Tether, and Ether. Authorities expect more victims to emerge as investigations continue, potentially increasing the compensation pool to 9.4 million USD.
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