The CEO of Mining Capital Coin has been indicted for operating a crypto pyramid scheme that stole over $60 million from investors.
The United States Department of Justice has indicted Luiz Capuci Jr., the CEO and co-founder of Mining Capital Coin , for allegedly running a $62 million fraud scheme.Capuci and other unnamed members of his team had misled investors into thinking that MCC’s mining and investment program had massive profit-bearing potential.
The investment would allegedly be used to mine a new cryptocurrency, MCC’s native token dubbed “Capital Coin.” Capuci claimed the token was backed by the “biggest cryptocurrency mining operation in the world.” He, however, failed on these promises and rather resorted to using the funds raised by investors to fund personal crypto wallets under his control.
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