Criminal Law
The CEO of Mining Capital Coin Is Indicted For an Alleged Investment Fraud Scheme
The Justice Department indicted Mining Capital Coin CEO Luiz Capuci Jr. for “allegedly orchestrating a $62 million global investment fraud scheme,” the agency said Friday.
Mining Capital Coin, or MCC, is a cryptocurrency mining and investment platform. Capuci, who is from Port St. Lucie, Florida, allegedly misled investors by selling “Mining Packages,” promising substantial returns from mining new cryptocurrencies in what MCC described as their international network of crypto mining machines, according to the DOJ press release.
According to a US Securities and Exchange Commission complaint filed last month, Capuci sold mining packages to more than 65,000 investors since at least January 2018. The group promised daily returns of 1% for up to a year, the SEC press release says.
