US prosecutors seek to recover $7.10M in cryptocurrency related to an oil and gas investment scam

According to The Block, the U.S. Attorney's Office for the Western District of Washington has filed a civil forfeiture lawsuit involving $7.10M in cryptocurrency related to an oil and gas investment scam. Prosecutors allege that Geoffrey K. Auyeung, 47, and his associates lured investors into transferring funds into so-called "crude oil tank escrow accounts," promising profits through leasing tank space. [Foresight News]