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Utahn accused of collecting $1.7 million for ‘sale’ of fake cryptocurrency mining machine

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Utahn accused of collecting .7 million for ‘sale’ of fake cryptocurrency mining machine

A Utah man has been charged with 5 counts of wire fraud and two counts of cash laundering associated to a cryptocurrency enterprise and personal funding agency he owns, in keeping with the Division of Justice. (Spenser Heaps, Deseret Information)

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SALT LAKE CITY — A Utah man has been charged with 5 counts of wire fraud and two counts of cash laundering associated to a cryptocurrency enterprise and personal funding agency he owns, in keeping with the Division of Justice.

James Wolfgramm, 43, of Spanish Fork, was named in a grand jury indictment in Utah’s U.S. District Court docket on Thursday, together with two of his corporations, Bitex LLC and Ohana Capital Monetary Inc., in keeping with the DOJ. Bitex is known as in two wire fraud counts, and Ohana Capital Monetary is known as in two wire fraud counts and two cash laundering counts.

Wolfgramm and Bitex are accused of gathering almost $1.7 million from two potential consumers of a high-powered cryptocurrency mining machine known as the “Bitex Blockbuster” — which doesn’t truly exist, investigators stated. Mining for cryptocurrencies requires refined computer systems that allow a person to “mine,” which is how new items of the cryptocurrency are made. Mining gear additionally wants massive quantities of electrical energy to energy.

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The indictment alleges that Wolfgramm displayed one of many machines in Bitex’s workplace house to purportedly reveal the mining machine’s real-time operations.

“In actuality, the machine was pretend, and the monitor displayed a prerecorded loop that merely gave the looks of mining exercise,” stated a press launch from the DOJ.

Wolfgramm and Ohana Capital Monetary are accused by investigators of gathering hundreds of thousands of {dollars} from clients after falsely claiming that Ohana had a board of advisors and promising clients that their funds had been bonded. In actuality, the corporate is registered as a personal lender, and lacks accreditation as a full monetary establishment, in keeping with the Division of Justice.

The corporate is accused of spending clients’ funds on unrelated enterprise bills with out their data, moderately than maintaining them on deposit, DOJ officers stated.

Lastly, Wolfgramm was charged with fraudulently buying the Sports activities Metropolis advanced in Draper for $15 million in 2021. In line with federal prosecutors, Wolfgramm took over the property and billing of shoppers with out ever paying utilities or bills and with out making any of the promised funds to the vendor. The DOJ claims he collected almost $160,000 from clients.

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Prosecutors say Wolfgramm gave the sellers of the property a verify for $1 million that bounced. Wolfgramm claimed to have paid greater than $255,000 in taxes on the property, however prosecutors say these funds failed as nicely as a result of Wolfgramm had knowingly used an account with inadequate funds.

Wolfgramm, Bitex and Ohana have confronted related allegations earlier than. In January, Wolfgramm was charged with 4 counts of wire fraud whereas working his cryptocurrency enterprise and mishandling clients’ funds.

The Division of Justice stated Wolfgramm has additionally used the names Semisi Niu and James Vaka Niu.

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ZT Mining Introduces User-Friendly Cloud Mining Services for Global Cryptocurrency Investors | Bitcoinist.com

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ZT Mining Introduces User-Friendly Cloud Mining Services for Global Cryptocurrency Investors | Bitcoinist.com

ZT Mining is revolutionizing cryptocurrency investment by offering accessible and secure cloud mining solutions to a worldwide clientele.

Since its inception in 2020, ZT Mining has emerged as a reputable entity in the cryptocurrency sector, serving over 200,000 clients across more than 150 countries. The platform enables users to mine various cryptocurrencies without expensive hardware or specialized technical knowledge.

Simplified Mining Experience

ZT Mining’s platform is designed to be intuitive, allowing users to:

  • Register an Account: Quickly set up a profile to access the platform’s features.
  • Select a Mining Plan: Choose from various plans for different investment levels.
  • Receive Earnings: Profits are deposited directly into the user’s designated wallet, and each plan’s performance is transparently tracked.
  • Automatic Deposit and Withdraw: ZT Mining offers an automatic deposit and withdrawal feature, which is one of the most unique features. Users do not have to worry about deposits and withdrawals once they fix it.

Diverse Investment Plans

The platform offers several investment options to accommodate various investor profiles:

Mining Plan Contract Price Duration Daily Profit Total Net Profit Capital Back
Free Bitcoin Miner $35 1 Day $1.00 $36.00 Yes
Bitcoin S21+ $159 2 Days $3.18 $165.36 Yes
Bitcoin S21+ Hyd $500 5 Days $7.60 $538.00 Yes
Litecoin L7 (8.8Gh) $1,500 7 Days $24.00 $1,668.00 Yes
Dogecoin L7 (9.05Gh) $2,999 10 Days $50.38 $3,502.80 Yes
Dogecoin L7 (9.3Gh) $6,500 15 Days $113.10 $8,196.50 Yes
Bitcoin S21e XP Hyd $15,000 20 Days $270.00 $20,400.00 Yes

These plans are structured to provide daily profits and return on capital, catering to both novice and experienced investors.

What Makes ZT Mining Stand Out in the Market

ZT Mining has the best crypto mining software in the cryptocurrency mining industry. It offers unique features that cater to a broad audience. 

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Here are the key factors that make it a preferred choice:

Innovative and Accessible Technology

ZT Mining uses cutting-edge cloud-based technology to simplify cryptocurrency mining. Users can participate without investing in expensive hardware or acquiring technical expertise. It makes mining accessible to investors, breaking down traditional barriers and making cryptocurrency mining available to a global audience.

Affiliate Program for Additional Earnings

ZT Mining also offers an affiliate program, allowing users to earn commissions by referring new clients. Affiliates receive a 3.2% commission on each referred client’s investment, with additional bonuses ranging from 1.8% to 3.2% for subsequent referrals made by those clients. 

The affiliate program allows you to generate passive income by sharing a unique referral link on various social media platforms.

Transparency and Trustworthiness

Transparency is at the core of ZT Mining’s operations. The platform provides clear tracking of earnings, with users able to monitor their mining outputs in real time. 

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Coupled with reliable daily payouts and a proven history of secure transactions, ZT Mining has earned the trust of over 200,000 clients worldwide.

Diverse Plans for Varied Investors

The mining platform offers a variety of investment plans, catering to different budgets and risk appetites. From low-cost entry-level options to high-value, short-term contracts with significant returns, the platform ensures flexibility for every investor type. Adding features like guaranteed capital return enhances its appeal to those seeking secure, high-reward opportunities in the cryptocurrency space.

These differentiators solidify ZT Mining’s position as a go-to platform for cryptocurrency enthusiasts, combining accessibility, reliability, and profitability in one comprehensive solution.

Advanced Security Measures

The platform employs robust security protocols to protect user investments and personal information. Utilizing EV SSL encryption ensures that all data transmitted between users and the platform is securely encrypted, safeguarding against potential cyber threats. Dedicated servers are fortified against DDoS attacks, providing uninterrupted service access.

Summary

ZT Mining is a trusted and user-friendly platform that simplifies cryptocurrency mining for all types of investors. With advanced technology, diverse investment plans, and a focus on security and transparency, it has gained the confidence of over 200,000 users worldwide.

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FAQs

  1. How does ZT Mining ensure the safety of user investments?

ZT Mining employs advanced security measures, including EV SSL encryption and DDoS protection, to safeguard user data and transactions. The platform also provides transparent earnings tracking, ensuring users fully see their investments.

  1. Do I need technical knowledge or mining equipment to start with ZT Mining?

No, ZT Mining’s cloud-based system eliminates the need for expensive hardware or specialized technical skills. It offers a simple setup and a user-friendly interface.

  1. How can I earn additional income with ZT Mining?

ZT Mining’s affiliate program allows users to earn commissions by referring new clients. Affiliates receive a 3.2% commission on referred investments and bonus rates for indirect referrals. Sharing your unique referral link on social media platforms can help you generate passive income.

Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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Crypto miners must register with state and reveal power usage under new Texas rule

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Crypto miners must register with state and reveal power usage under new Texas rule

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Bitcoin, Ether, XRP, and others: Cryptocurrencies to watch this week

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Bitcoin, Ether, XRP, and others: Cryptocurrencies to watch this week

Illustration: Burak Can Oztas (Getty Images)

Bitcoin, the flagship cryptocurrency, is on the cusp of a historic milestone: $100,000. Last week, it came close, reaching an all-time high of $99,645 before retreating slightly. As of now, Bitcoin is trading around $98,000, maintaining a strong position despite the minor pullback.

Crypto enthusiasts worldwide are eagerly watching, hopeful that Bitcoin will soon shatter the $100,000 barrier—a market milestone that would further cement its status in financial history.

The cryptocurrency has shown impressive momentum, gaining over 8% in the past week and continuing its upward trajectory.

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