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AP National Business

Federal regulators accuse 2 siblings in $124M crypto scam

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Published 1:45 PM

WASHINGTON (AP) — In their latest case targeting alleged fraud in cryptocurrency, federal regulators have accused two siblings of defrauding thousands of ordinary investors out of some $124 million in unregistered securities offerings involving a digital token. The Securities and Exchange Commission alleged in a civil lawsuit that John and JonAtina Barksdale used in-person roadshows around the world and social media including YouTube videos to sell fraudulent investments related to the so-called Ormeus Coin. The SEC said they falsely claimed that the digital coin was supported by one of the largest crypto mining operations in the world. 

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