OmegaPro Founders Charged in $650 Million Investment Fraud Case

According to BlockBeats, the U.S. Department of Justice has announced charges against the founders of the international scam project OmegaPro for orchestrating a $650 million forex and cryptocurrency investment fraud. Michael Shannon Sims, a resident of Georgia, and Juan Carlos Reynoso from New Jersey, allegedly promoted 'forex investment packages' through a multi-level marketing scheme, promising a 300% return within 16 months and requiring payment in cryptocurrency. The indictment reveals that the defendants created a luxurious image by showcasing expensive cars and vacation photos, later claiming a 'hacker attack' to freeze investor funds and prevent withdrawals. These funds were then transferred to cryptocurrency wallets controlled by company executives. Sims is identified as the founder and promoter of OmegaPro, while Reynoso led the company's operations in Latin America and the United States. Both defendants face two counts of conspiracy, with each charge carrying a maximum sentence of 20 years in prison if convicted.