US authorities extradite alleged Ponzi scheme co-founder from AirBit Club

The acting U.S. Attorney in Manhattan has announced the extradition of a co-founder involved in a global cryptocurrency Ponzi scheme. So, they've been charged with conspiracy related to wire fraud, bank fraud, and money laundering. It’s good news for those who fell victim to this scam, but honestly, I doubt they'll see their money again. At least it feels like there's some justice happening here.

Well what do you expect, that's the long arm of the US DOJ, but as per report he is also a US citizen so no doubt that he will be extradited to the US to face the charge. Just check what will be the sentence for money laundering offence, and it says up to 20 years in prison. So he could be looking at long years behind bar if found guilty.

Funny how they are chasing after this ponzi schemes when Herbalife and other prominent politician acquainted MLMs are still operating in the United States. You know that they will only attack those that do not bend to their will to kiss their bureaucratic ass. If only AirBit Club lobbied with this greedy cronies, they wouldn't have a problem with this.

I tend to agree, but the news shows how far the US government can extend their arms with regards to implementing their law and bringing justice to everyone.  It isn't new that these people behind such Ponzi Scheme can hide easily but if only the authorities of all the government around the globe will take it seriously then no one will be scammed. And for whatever reason Gutenberg Dos Santos including his colleagues being extradited and will be facing the court now it is rightful to say that the US has never stopped nor neglected its responsibility to serve impartiality to everyone whether they came from a different land yet within their jurisdiction.

I don't think we can compare them though, maybe US DOJ is hell bent on bring crypto criminals to justice right now as there are really doing a lot of witch hunting, even prosecute foreign individuals in absentia. And it just so happened that the Airbit includes a US citizen so obviously, they will do everything in their power to bring him home and face the music. As far as Herbalife, they've been fined $200 million in settlement but I'm not sure if the people behind was put behind bars.

I don't know how you come up with those reasoning though, US have been fair I would say, as they have been really applying the rule of law against those who violated it, and recently, crypto scammers have been targeted by the US and then some cyber actors within US or outside or illicit drugs that uses bitcoin and other crypto. So they are are really pursuing any entity that they have evidences of committing crimes within their jurisdiction.

It can be said that the United States is good at applying justice in such matters, although they do not have laws to legislate or regulate such matters regarding cryptocurrencies, there must be laws to protect investors in such cases, but unfortunately there is a persistence in ignoring the legislation of cryptocurrencies in the country. So I think that these poor people will not be able to get their money back.

Oh well, lesson learned for those who have invested in the AirBit Club. In the Philippines, lots of Filipinos (including here in my city) have invested and recruited a lot in AirBit. I was invited a few times by some of them, but I keep rejected it because I know its a ponzi scheme and I am not a fan when it comes to network marketing using crypto as front as 99.99% of them are scams. They are just using Bitcoin as front and never promoted the real use case of it, but only the scam opportunity such as ridiculous packages, compensation plans, etc.