Wisconsin files enforcement to stop metaverse investment fraud by Russian scammers

MADISON, Wis. (WMTV) – Wisconsin joins 5 different states in submitting an enforcement in opposition to the corporate Flamingo On line casino Membership for scamming United States residents out of cash utilizing fraudulent funding schemes.

The corporate, which is predicated out of Russia, falsely claims to have a partnership with Flamingo Las Vegas, a longtime on line casino in Nevada, in line with the state regulators.

The corporate invitations customers right into a metaverse on line casino the place they will play digital craps, blackjack, roulette, and different widespread on line casino video games with an avatar that they create. The Flamingo On line casino Membership then provides customers nonfungible tokens, or NFT’s.

These NFT’s are then marketed by solicited traders via the corporate’s web site and social media accounts as a substitute of monetary professionals.

The regulators additionally allege that the corporate makes use of a phony handle and cellphone quantity and goes as far to even conceal its bodily location and its Russian ties.

In line with the regulators, it’s widespread for on-line scammers to stay nameless in order that when their schemes collapse, they will simply disappear. The orders filed by the states recommend that the Flamingo On line casino Membership is doing simply that.

Aside from Wisconsin, Alabama, Kentucky, Texas, and New Jersey all filed an motion in opposition to the Russian firm.

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