Ex-Deutsche Bank Investment Banker Charged With Crypto Fraud (3)

A former Deutsche Bank investment banker was charged with engaging in a Ponzi-like cryptocurrency fraud in which he falsely promised investors “guaranteed” returns and used some of their money to pay off others.

Rashawn Russell, 27, was arrested on Monday and accused by US prosecutors of defrauding multiple investors by telling them their funds would be used for crypto investments, when he was really using the money for personal expenses like gambling or to keep the alleged scheme going.

Read the indictment here

Russell “turned the demand for cryptocurrency investments into a scheme to defraud numerous investors in order to ...