Defendants David Gilbert Saffron and Vincent Anthony Mazzotta Jr. are accused of soliciting deposits from users for investment purposes. However, instead of using the funds for their intended purpose, the defendants allegedly spent the money on extravagant personal expenses. This includes indulging in lavish purchases and experiences. The defendants are facing charges related to their alleged misappropriation of these deposits.
HomeDIGITAL ASSETS REGULATORYworldwide-stablecoinTwo individuals indicted for $25M AI crypto trading scam: DOJ