Luiz Capuci Jr., the co-founder, and CEO of an investment and crypto mining venue MCC (Mining Capital Coin) has been accused by the DOJ (Department of Justice) of reportedly planning an investment scam project of $62M globally. The charges leveled on the behalf of the DOJ on Capuci include conspiring to perform a securities scam as well as a wide-ranged money laundering done through many accused fraudulent projects that were run under MCC. If the accused is proven guilty of the allegations, 45 years in prison would be a maximum sentence for him.
Per the indictment of the DOJ, Capuci (in parallel to the anonymous co-conspirators) is considered to have misled the investors regarding Capital Coin (a local token having been supported by the largest crypto mining activity throughout the world) and the aptitude of the mining packages of MCC for bearing profit. As included in the mining packages, it is said that Capuci has touted enormous proceeds and promised considerable returns by utilizing the investors’ funds for the mining of the unique cryptocurrency however reportedly remained unsuccessful in adequately working as was promised.
Also read:The DOJ additionally accused him of suspected trading bots’ marketing with exclusive technology that was never witnessed before and has the potential to organize numerous trades in a second along with generating the regular returns to facilitate the investors. In this way, the investors were assured by Capuci to have substantial income generated, however, the MCC co-founder was diverting the respective funds for his and the co-conspirators’ utilization, as noted by the DOJ indictment.
Apart from this, he is accused of appointing affiliates and promoters for MCC to be included in the multi-level marketing project. In reward for successfully tempting the investors, Capuci has reportedly promised the things such as Porsche, Lamborghini, iPads, Apple Watches, and even the Ferrari that he owns. Moreover, he additionally did not reveal the location as well as the administration of the defrauded funds stolen from his investors and laundered them via several foreign crypto exchanges.
As per the complaint of the SEC, Pires, Capuci, and MCC traded packages to more than 65,535 investors internationally and swore to provide regular returns of up to 1 percent, to be delivered weekly, throughout the year. The SEC accuses Capuci and Pires of netting approximately $8.1M from those mining packages along with $3.2M in initiation charges.
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