In a crypto scam, the president of a fictitious UN affiliate was found guilty of fraud.

    Asa Saint Clair was convicted of wire fraud for devising an investment scheme that swindled hundreds of thousands of dollars from more than 60 victims.

    The president of a fictitious United Nations (UN) affiliate has been convicted of defrauding investors in a crypto offering.

    • Asa Saint Clair has been convicted of wire fraud for devising an investment scheme which scammed more than 60 victims into providing loans to a sham organization he had invented ,according to a Department of Justice¬†¬†release Friday.
    • The “World Sports Alliance,” he claimed, was an affiliate of the UN promoting the values of sports that was developing IGObit, a digital coin which guaranteed returns on investment, in a scheme that ran from November 2017 to around September 2019.
    • Saint Clair was “in reality promoting only the balance of his bank accounts,” Damian Williams, Attorney for the Southern District of New York, said.
    • The more than 60 victims of Saint Clair’s scam were defrauded of “hundreds of thousands of dollars,” according to the release.
    • The count of wire fraud carries a maximum sentence of 20 years in prison. Saint Clair is scheduled to be sentenced by a judge on July 19, 2022.

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