The scheme involved soliciting investments in binary options and cryptocurrency mining, the U.S. Department of Justice claimed.
The binary options were advertised as “an average payout of 80 percent, and promised 20 percent refunds on every lost trade.” The fraudulent advertisements also noted that investors could “purchase bitcoin at half market price” on its crypto mining platform, the department claimed in a statement.
According to Coindesk, Serbian authorities arrested Antonije Stojilkovic, 32, in July of last year, and the FBI delivered him to the Northern District of Texas this past Thursday. He is alleged to have had five Serbian co-conspirators and one U.S.-based co-conspirator.
The DOJ alleges the defendants created false trading activity, withdrawal history and wire receipts.
If convicted, Stojilkovic and his co-defendants face up to 20 years in federal prison.