The Department of Justice has officially triggered a massive recovery process to return over $400 million to people fleeced by AirBit Club, a fraudulent operation that masqueraded as a high-tech cryptocurrency mining powerhouse.
Starting back in 2015, the group’s promoters traveled the globe, hosting flashy expos and small-town meetings to sell a dream of guaranteed daily returns. They claimed to use “advanced” virtual currency mining and trading to generate passive income for members. In reality, the online portals that showed investors’ balances growing were nothing more than a digital facade. No actual trading or mining ever happened.
The house of cards collapsed in August 2020 when federal charges were filed in the Southern District of New York. The fallout led to prison time for co-founders Pablo Renato Rodriguez and Gutemberg Dos Santos, who were sentenced in late 2023. Promoters Cecilia Millan and Karina Chairez, along with attorney Scott Hughes, were also sentenced and forced to hand over their illegal earnings, which included a mountain of seized virtual currency.
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“The defendants took advantage of virtual currency’s popularity to promote the scheme and recruit additional victims,” said Assistant Attorney General A. Tysen Duva. He noted that the successful criminal convictions and the recovery of assets are what made this $400 million compensation effort possible.
U.S. Attorney Jay Clayton added a warning to others, noting that “investor euphoria over new technology is all too often fertile ground for fraudsters.” He emphasized that the sentences handed down should serve as a deterrent to anyone looking to use false promises of crypto wealth to target others.
The recovery effort is being managed by RCB Fund Services, LLC (RCB). If you previously reached out to the FBI or the U.S. Attorney’s Office regarding AirBit Club, the administrator will be contacting you directly to file a claim. Victims can also take the initiative by visiting the official fund website at www.airbitvictimfund.com or calling (800) 765-7551.
Acting Special Agent in Charge Michael Alfonso of Homeland Security Investigations (HSI) New York highlighted the work of the El Dorado Financial Crimes Task Force in tracking down the money.
“Virtual currency fraud is one of the costliest scams affecting victims today,” Alfonso said, promising that his team would continue to use every tool available to claw back “ill-gotten gains.”
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Since the year 2000, the DOJ’s Asset Forfeiture Program has managed to return more than $12.5 billion to crime victims. This latest remission process is being spearheaded by Senior Attorney Advisor Carly Diroll-Black.
Officials are also issuing a stern warning: the government will never ask for payment to participate in this recovery. If someone asks for a fee to “process” your claim, it is a scam. All official communication will come directly from RCB Fund Services or government representatives you have already been in contact with during the investigation.
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