Nicholas Coppola, the 27-year-old Italian who has accumulated a series of fraud charges related to cryptocurrencies, has been taken to prison. According to the Verona Prosecutor’s Office, the suspect could continue his criminal activities or organize escape attempts while under house arrest.
Summary
- Nicholas Coppola of the crypto mega scam has been taken to prison
- Nicholas Coppola and his massive crypto scam
- The movie Bitconned on Netflix
Nicholas Coppola of the crypto mega scam has been taken to prison
Nicholas Coppola, the 27-year-old author of the massive crypto scam that has collected a flurry of complaints, has been taken to prison.
The decision was made directly by the Judge of the Court of Verona, upon request of the public prosecutor, after it was discovered during the period of house arrest that Coppola had access to smartphones and computers, his weapons of fraud.
And in fact, despite the restrictions imposed by the order after Christmas 2023, which had placed him under house arrest, the following has been detected:
“The suspect continued to communicate with a mobile phone and internet-connected computer, thus being able to repeat criminal behaviors similar to those already contested or attempt to escape.”
So the problem is that Coppola could have been able to carry out his criminal activities or organize an escape attempt, while he was under house arrest, thanks to access to internet devices.
Therefore, the financiers of Verona have carried out the precautionary custody measure in prison.
Nicholas Coppola and his massive crypto scam
According to what has emerged, Coppola had fully started his massive crypto scam at least since 2021.
Throughhis social profiles, followed by over 26 thousand followers, Coppola promoted his image as a highly successful person in the financial field, flaunting a high standard of living. Not only that, Coppola advertised events and companies active in the world of cryptocurrency investments.
Intrigued by Coppola’s lifestyle, with luxury, dream hotels, flashy cars, and trips around the world, the victims followed his “financial advice,” investing in what turned out to be real Ponzi Schemes.
And indeed, it seems that the money invested by the victims with the promise of higher returns, did not end up in any arbitrage or form of investment. This money was collected and used to partially repay the new investors.
After discovering the scam, the victims filed a complaint against Coppola. Many of them turned to lawyer Matteo Moschini from Treviso, but the boy seems to have stopped talking during the interrogation.
Anyway, while on one hand there is talk of dozens and perhaps hundreds of victims, on the other hand, along with Coppola, it seems that the collaborators of the boy are also in the crosshairs of the investigations.
The movie Bitconned on Netflix
Crypto scams are becoming increasingly widespread and, more often than not, follow this type of scheme: flaunting wealth to entice victims who, by investing their money, then fall into the Ponzi trap.
Staying in the world of crypto scams, on Netflix is available from this month of January 2024, Bitconned, the docu-film about Ray Trapani’s crypto scam and the rise and fall of Centra Tech.
The protagonist of the film is Ray Trapani himself, who in 2017 created one of the biggest crypto scams through the company Centra Tech, which offered, among other things, a debit card.
With this business card, Trapani then created an ICO (“Initial Coin Offering”) that would have raised a whopping $25 million from interested parties.
The illegality of the ICO, along with false statements of material and omissions that encourage people to invest, would have led to charges against Ray and his partners.
At the moment, Trapani has pleaded guilty to the charges related to the investor fraud scheme and has been forced to repay over 2.6 million dollars, in addition to his prison sentence.
