• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

Michael Jordan of Crypto Trading Scams MLB Players Out of Millions

Tony Spilotro by Tony Spilotro
12 months ago
in Bitcoin, Cryptocurrency news
Reading Time: 3min read
crypto trading michael jordan mlb ponzi scheme scam
Advertisement
Listen to Article

A new court filing reveals that the self-proclaimed Michael Jordan of crypto trading has been charged with scamming over 100 investors out of $7.5 million.

The investors include former professional MLB players, raising the stakes and bringing additional public attention to the case.

Crypto Trading Ponzi Scheme Scams Investors Out of $7.5 Million

When you hear the name Michael Jordan, although the iconic NBA Hall of Famer had a short stint in the Minor Leagues following retiring from his basketball career, you probably don’t think of Major League Baseball. Nor do you think of crypto.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Related Reading | Hawaiian Woman Invests 401K Into Crypto Mining Ponzi Scheme, Hit With Restraining Order 

But according to a complaint filed in Arizona federal court, the self-proclaimed “Michael Jordan of algorithmic cryptocurrency trading” is being accused of scamming former MLB players and as much as over 100 others out of more than $7.5 million over an 18-month period.

Reports claim that the United States Secret Service apprehended John Michael Caruso, also known by the trading name “Kryp+0 K!ng.”

Caruso is the co-founder of a blockchain and crypto investment firm called Zima Digital Assets. The company’s other co-founder, Zachary Salter, was also arrested in relation to the case.

Salter is claimed to be an R&B singer and has an album entitled Sweetalker available for streaming on Spotify.

Phony MLB Player Investments Involve Sweet-talking Singer and Michael Jordan of Trading

But it was Caruso and Salter’s sweet-talking investors out of their hard-earned money that may have gotten the duo in hot water with authorities.

Court filings don’t identify any MLB players directly but said that many MLB players and their families were among the victims. Others are senior citizens who were duped out of hundreds of thousands of dollars that could have been used toward a retirement.

Investigators believe that the $7.5 million is just the tip of the iceberg, and conclude that there is no evidence of any investment funds. Caruso only reported income of $22,800 in 2018, yet claims to make “calculated trades using tested principles and algorithms” to generate wealth for investors.

Instead, Caruso may have used the funds toward a plethora of luxury vehicles including a Lambo, Rolls Royce, Ferrari, and Aston Martin. He’s also said to have been living a life of lavish, traveling to London, Hawaii, Cabo San Lucas, and many more locations via private jet – all paid for my scammed investors.

Salter, who reported no income in 2018 at all, also owns a Mercedes, BWM, Audi, and a 1957 Chevy. The pair flaunt their riches via online profiles on Instagram as a means of luring in new investors to their crypto Ponzi scheme. Instagram appears to have removed their pages from social media.

Authorities were tipped off last year after an anonymous complaint was made to the Federal Trade Commission.

Related Reading | Bolster Your Personal Opsec With This Crypto Investor Checklist 

In the past, Caruso has spent jail time for what the court calls a full-time career criminal trajectory. Previously he’s served time for threatening to sever a man’s hands and genitals from his body.

Why anyone would trust someone with $22,000 in reported income and a criminal background is confusing, but it appears that even MLB players were too blinded by the potential crypto investment to see the scheme in front of them.

Featured image from Shutterstock
Tags: crimecryptomichael jordanMLBponzi scheme
TweetShare38
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

Related Posts

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin En Route to $30,000 After Price Falls ~12% in a Day; Here’s Why

1 hour ago
Highly Anticipated Ethereum Fee Model Upgrade is Expected in 2021

Highly Anticipated Ethereum Fee Model Upgrade is Expected in 2021

2 hours ago
btcu

The Brilliant Minds Behind the BTC Ultimatum Project, and Their New CEO, Eric Ma

23 hours ago
Can Blockchain Help Enterprises Navigate GDPR Headaches?

Can Blockchain Help Enterprises Navigate GDPR Headaches?

24 hours ago
altcoins bitcoin crypto alt season altcoin xrp ethereum ripple litecoin

Centralized Wealth: The Downside To Institutional Bitcoin Buying

2 days ago
Ethereum

Ethereum Rallies Towards All-Time Highs as BTC Stalls; What Analysts are Saying

2 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Seascape Network to take DeFi Gaming to the Next Level with the Binance Smart Chain

January 21, 2021

Bit.com To Launch Industry’s First BCH Options

January 20, 2021

NOWPayments Presents: Fiat Conversion

January 20, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.