Rashawn Russell, a former employee of German banking giant Deutsche Bank, pleaded guilty to cryptocurrency fraud cited by the US Department of Justice (DOJ).
by Reuters 20 September According to a report filed Wednesday, the U.S. Department of Justice Deutsche Bank customers via cryptocurrencies fraud Former investment banker of the bank accused of rashawn russell He admitted his guilt.
Ruessell denied the initial allegations made in April.
Former employee of the bank, Russell, is within the scope of the accusations up to 30 years in prison He is tried with a fine. The former employee, however, had approximately 1.5 million dollars compensation will have to pay. The former Deutsche Bank employee also reported the total loss of customers 15 million dollars You may also have to pay it back.
He promised high returns and used the money he collected
Russell, allegedly managing R3 first because of a cryptocurrency fund called last April was at the center of the accusations. R3 fund provides bank customers with cryptocurrencies high And guaranteed return It promised the opportunity.
However, US officials, who conducted detailed research on the cryptocurrency fund in question, found that Russell’s customer funds were only a small portion to the trading portfolio referral and the remaining balance games of chance including used for personal activities he suggested. However, Russell mislead investors And to make it look like everything’s okay financial statements full of fake data He was also accused of showing
US prosecutor making a statement on the subject Breon PeaceRussell’s investors that he abused his interest in the cryptocurrency market stated:
Russell capitalized on investor interest in cryptocurrency markets by executing a scheme to defraud customers who trusted him.
Deutsche Bank, Russel was not held responsible for these fraudulent acts.