The Miami crew faces 30 years in prison for running a fraudulent crypto program

The US Department of Justice (DOJ) charged three Miami residents – Esteban Cabrera Da Corte, Luis Hernandez Gonzalez and Asdrubal Ramirez Meza – with defrauding banks and a cryptocurrency platform of over $4 million.

The men used false identification to buy digital assets, later lying to financial institutions that the transactions were not authorized so they could make more money. For their crime, the trio faces up to 30 years in federal prison.

Stops the scam

In a recent announcement, US authorities announced the arrest of Miami citizens Da Corte, Gonzalez and Meza. They allegedly bought digital assets from a cryptocurrency exchange using stolen initials and complained to the banks that these transactions were carried out without the necessary authorization, and asked for a refund.

“As alleged, Esteban Cabrera Da Corte, Luis Hernandez Gonzalez and Asdrubal Ramirez Meza used stolen identities to purchase cryptocurrencies and then doubled down by contesting the transactions, tricking US banks into believing they themselves were victims of someone else’s fraud. Thanks to the efforts of HSI’s El Dorado Task Force, their duplicity has been exposed and they now face serious federal charges, said US Attorney Damian Williams.

Over the course of their crime spree, they processed more than $4 million in fraudulent reversals, while the undisclosed cryptocurrency exchange lost over $3.5 million in digital assets.

However, Homeland Security Investigations (HSI) identified the breach and organized the arrest of the men. The entity vowed to continue working towards that direction and stop future forms of crypto fraud:

“Today’s arrests demonstrate how HSI, along with the US Secret Service and our partners in the Southern District of New York, will continue to work together to leverage the transparency of cryptocurrency transactions to follow the trail of illicit funds and pierce the veil of anonymity. “

The US DOJ charged Da Corte, Gonzalez and Meza with conspiracy to commit wire and bank fraud and aggravated identity theft. The maximum potential sentence they could receive is 30 years behind bars.

The Vegas Criminal Crew

Cryptocurrency scammers often work in teams, and Joy Kovar and her son Brent Kovar are another example. Last year, the Securities and Exchange Commission (SEC) granted a temporary restraining order against the 86-year-old woman and the 54-year-old man for stealing over $12 million from more than 270 investors.

The family enticed people to invest in their Las Vegas-based company, Profit Connect Wealth Services. The duo promised significant returns to anyone who allocated funds to digital assets through the platform. The scammers even assured victims that the firm uses an “artificial intelligence supercomputer” and that their investments are safe.

Needless to say, the duo pocketed the money and used it to buy luxury items for themselves. They have even bought a house.