Four men indicted in $80 million ‘pig butchering’ scheme
Publishing timestamp: 2023-12-14 12:19:14
Summary
Federal prosecutors have disrupted a "pig butchering" scam that cost victims over $80 million. Four men have been indicted and two arrests have been made. The scam involves convincing victims to send money to fake investment platforms, and the defendants allegedly used shell companies and bank accounts to launder the illicit proceeds.
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Keywords: business news, securities fraud, los angeles, crime, markets, jpmorgan drn, investors, corruption, united states, breaking news: markets, cryptocurrency, tether/usd coin metrics, bank of america corp, breaking news: technology, fraud and false statements,
Source: https://www.cnbc.com/2023/12/14/pig-butchering-scam-results-in-four-indictments-two-arrests-doj.html