Mining Capital Coin CEO is Accused of $62 Million Fraud

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Louis Capucci, Jr., a resident of the city of Port St. Lucie (Florida), has became a defendant in a $62 million fraud case, as stated on the website of the US Ministry of Justice.

According to the agency, he was the CEO and founder of Mining Capital Coin (MCC). The authorities believe he misled investors about the mining of cryptos and the investment program of the company.

According to the Ministry of Justice, Capucci and his accomplices convinced clients of high profitability and guaranteed profits when buying so-called “mining packages.” He also advertised the DAO-linked MCC token and trading bots.

The agency claims he actually used the funds received from investors for personal purposes. According to the authorities, the MCC coin scheme was a financial pyramid in which promoters and affiliates received rewards for attracting new participants.

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