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<p><span>A federal grand jury in San Diego returned an indictment today charging the founder of BitConnect with orchestrating a global Ponzi scheme. BitConnect is an alleged fraudulent cryptocurrency investment platform that reached a peak market capitalization of $3.4 billion.</span></p>
January 3, 2022 — Alexander Avergoon, a longtime San Diego real estate agent and businessman, was sentenced in federal court today to 64 months in prison for defrauding investors in several Ponzi real estate investment schemes. As part of his guilty plea, Avergoon also admitted to participating in multiple tax evasion and fraud schemes with Rabbi Yisroel Goldstein, former director at Chabad of Poway.
December 15, 2021 — A former executive of a Southern California-based funeral home company was sentenced on Monday to 27 months’ imprisonment for embezzling more than $2 million from his funeral home employer and lying on tax returns he filed with the Internal Revenue Service.
According to the FBI, Terry J. Harmon used the money he stole to fund a lavish lifestyle including paying for a house, gambling, traveling, and dining out.
By United States Attorney’s Office, Southern District of California ...... Global Gold Exchange, LLC and its managers, Richard M. Owen, James