Home Crime Former Deutsche Bank associate charged in crypto investment scheme

Former Deutsche Bank associate charged in crypto investment scheme

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An investment banker who previously worked for a company believed to be Deutsche Bank has been charged with cryptocurrency fraud, according to U.S. authorities. April 11th.

Rashawn Russell was arrested on April 10, according to a statement from the US District Court for the Eastern District of New York. He is now presumed innocent.

the text of April 6 The lawsuit alleges that Russell deceived investors by promising to use their funds to make profitable cryptocurrency investments.

Russell has promised “large and sometimes guaranteed” returns on his cryptocurrency investments. He sometimes claimed that in three months he created a cryptocurrency trading strategy on altcoins that could generate more than 100% return.

Russell has also been charged with wire fraud. He allegedly sent forged or altered documents to investors to misrepresent the status of their investments.

Official documents show that Russell solicited investments from former associates, including friends, college classmates, and colleagues at financial institutions.

Official documents only state that Russell worked as an investment banker at an unnamed financial institution, but Bloomberg reports that he worked as an investment banker at German multinational Deutsche Bank. It has been suggested that

A post by a former Deutsche Bank associate accused of a crypto investment scheme first appeared on CryptoSlate.

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