Menu

Search

Menu

Search

BlueBitBanc Pleads Guilty in New York Federal Court for Indulging in Crypto-Scam and Binary Options Frauds

New York Federal Court had instructed the renowned binary options, cryptocurrency platform Blue Bit Banc, Blake Kantor to take websites down for indulging fraudulent activities.

While the CFTC had also secured a preliminary injunction against a number of individuals and firms engaged in a fraudulent scheme involving binary options and digital currencies.

Blake Kantor, who is the CEO formerly operated a binary options company known as Blue Bit Banc and Blue Bit Analytics (“BBB”), pleaded guilty to conspire the binary options scam and also involved a crypto fraud scheme. 

With an intention of covering their tracks, the CEO misguided clients to translate their binary option investments into ATM Coin cryptocurrency, that seemed to be “a worthless cryptocurrency he had deceptively advocated investors to stay invested in for an abundant yield”.

The case was running since 2014, as part of his plea agreement, Kantor admitted to obstructing an investigation into his fraudulent scheme. When he is sentenced, Kantor faces up to 20 years in prison, as well as restitution, criminal forfeiture and a fine. The guilty plea was entered before United States Magistrate Judge Gary R. Brown.

William F. Sweeney, Jr., Assistant Director-in-Charge, Federal Bureau of Investigation, New York Field Office (FBI), James D. Robnett, Special Agent-in-Charge, Internal Revenue Service Criminal Investigation, New York (IRS-CI), and James McDonald, Director, Division of Enforcement, U.S. Commodity Futures Trading Commission (CFTC), confirmed the guilty plea.

Currency Strength Index: FxWirePro's hourly BTC spot index is flashing at -185 levels (which is bearish), hourly USD spot index was at -43 (bearish) while articulating at (12:21 GMT). 

For more details on the index, please refer below weblink:http://www.fxwirepro.com/currencyindex

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

December 17 07:00 UTC Released

TRIndustrial Prod Adj YY

Actual

-5.7 %

Forecast

-4 %

Previous

-2.7 %

December 17 07:00 UTC Released

NOTrade Balance

Actual

26.2 0

Forecast

Previous

34.9 0

January 31 00:00 UTC 461268461268m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 461268461268m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 473088473088m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 461268461268m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 473088473088m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 461268461268m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 461268461268m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 461268461268m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.