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The Hang Seng Index in Hong Kong opened at 25,969.21 points on October 14 (Tuesday), up 79.73 points, or 0.31%. The Hang Seng Tech Index in Hong Kong opened at 6,180.08 points on October 14 (Tuesday), up 34.57 points, or 0.56%. The CSI 300 Index opened at 9,251.66 points on October 14 (Tuesday), up 29.12 points, or 0.32%. The H-share Index opened at 4,023.81 points on October 14 (Tuesday), down 2.44 points, or 0.06%.On October 14th, Kyodo News reported that the secretaries-general of the Constitutional Democratic Party of Japan (CDP), the Japan Restoration Party (JRJ), and the Democratic Party for the People (DPN) are expected to hold a meeting on the afternoon of the 14th regarding the prime ministerial nomination election to select the successor to Prime Minister Shigeru Ishiba. Separately, the Liberal Democratic Party (LDP) will hold a secretary-general meeting with the DPN that afternoon. DPN leader Yuichiro Tamaki will hold a press conference that morning. Tamaki has expressed his willingness to hold a party leaders meeting with LDP leader Yoshihiko Noda, emphasizing that reaching consensus on security and energy policy is a prerequisite for cooperation in the prime ministerial nomination election. The LDP will hold a meeting with members of both houses of parliament in the afternoon, where party president Sanae Takaichi will explain the reasons behind Komeitos withdrawal from the ruling coalition.On October 14, Country Garden Holdings (02007.HK) announced on the Hong Kong Stock Exchange that it will hold a plan meeting on November 5, where creditors will vote on its offshore debt restructuring plan. If approved at the meeting, the plan will then require court approval and confirmation. The plan confirmation hearing is scheduled for December 4.Hang Seng Index futures opened up 0.3% at 25,887 points, 2 points below the spot price.The yield on five-year Japanese government bonds fell 2.5 basis points to 1.2%.

Mining Capital Coin CEO Indicted for Allegedly Running a Cryptocurrency Pyramid Scheme

Cory Russell

May 09, 2022 10:02


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MCC stands for Mining Capital Coin and is a cryptocurrency mining and investing platform. According to the DOJ news release, Capuci, who is from Port St. Lucie, Florida, allegedly deceived investors by offering "Mining Packages" that promised high profits from mining new cryptocurrencies in MCC's "international network of crypto mining computers."

 

Capuci marketed mining packages to more than 65,000 investors since at least January 2018, according to a US Securities and Exchange Commission lawsuit filed last month. According to the SEC news release, the organization offered daily returns of 1% for up to a year.


Capuci, according to the DOJ, moved the monies to his personal bitcoin accounts. According to the SEC complaint, MCC made at least $8.1 million from the sale of mining packages and $3.2 million in initiation fees, which were used to support a luxury lifestyle that included Lamborghinis, a boat, and real estate.


"Bad actors cheat investors and impede the ability of genuine entrepreneurs to develop within this burgeoning field," said Assistant Attorney General Kenneth A. Polite, Jr. of the Justice Department's Criminal Division.


Capuci has been contacted by CNN Business for comment.


According to the DOJ news release, Capuci also promoted MCC's own cryptocurrency, "Capital Coin." Another fake MCC investment route, "Trading Bots," according to the release, operated at "extremely high frequency, being able to conduct hundreds of transactions per second," according to Capuci. According to the DOJ statement, Capuci stated that the Trading Bots would deliver daily returns.


According to the DOJ, Capuci reportedly allegedly conducted a pyramid scam, enlisting promoters to sell mining packages and giving them incentives ranging from Apple watches to Capuci's own Ferrari.


Capuci was charged with conspiracy to conduct wire fraud, securities fraud, and international money laundering by the Department of Justice. If convicted on all charges, he could face up to 45 years in jail. The matter is being investigated by the FBI Miami field office and Homeland Security Investigations.


Others have been accused by the Justice Department with conducting bogus bitcoin schemes this year. A federal grand jury in San Diego accused BitConnect's founder in February for allegedly running a $2.4 billion worldwide Ponzi scam.

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