OmegaPro Founder Accused of Running Over $650 Million Crypto Scam

U.S. federal prosecutors have charged Michael Shannon Sims, 48, and Juan Carlos Reynoso, 57, with conspiracy to commit wire fraud and conspiracy to commit money laundering. Sims and Reynoso established the OmegaPro multi-level marketing scheme in January 2019, instructing investors to use virtual currency to purchase "investment packages" and promising that elite traders would generate huge profits through foreign exchange trading, involving $650.0 million. [Foresight News]