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The Jakarta Metro Police just arrested an alleged Child molester who also happens to be a Bitcoin scammer under the name Russ Medlin as we are reading in our Bitcoin scam news further.
The Jakarta Metro Police arrested the US national Russ Albert Medlin was an unofficial owner of a larger cryptocurrency Ponzi Scheme Bitclub network. The police acted once they got a tip that Medlin was involved in a child prostitution ring. The police’s cybercrime directorate captured Medlin in Kebayoran Baru, in South Jakarta back on Sunday according to a report. On the day of the arrest, the police officers questioned three women the left Medlin’s residence and two of them were minors. The girls confessed to being involved in a child prostitution ring and said that Medlin was one of the most regular clients.
The Jakarta Metro Police charged Medlin with sexual assault on minors which could mean a 15-year prison sentence. He was also involved in several other illegal activities including child abuse and financial fraud. The reports also noted that Interpol flagged him as a child molester since he was already convicted for this crime twice, once in 2006 and then in 2008. After the second one, he served two years in prison for the statutory rape of a 14-year old girl and also possessing child pornography.
Medlin was involved in one of the biggest crypto Ponzi schemes as well, the BitClub network. The BCN presented as a legit Bitcoin mining operation that asked the users to put some money in and then in return, to receive a share of the revenues generated by the mining pool. The members were also able to generate revenue by sponsoring new users to join the network. What made the platform extremely deceitful was the fact that the mining pool existed from 2014 to 2019. The participating members were not paid from the mining operations block rewards but they received only minimal payouts. The members also wanted to get their earned funds but they had to pay a huge fee instead.
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The company claimed that BitClub is not owned by any single entity and it is actually a team of experts, professionals, and network marketers. According to other research, Medlin even stated in a YouTube video that everyone is “in my downline.” The FBI later accused Matthew Brent Goettsche, Joseph Frank Abel, Silviu Catalin Balaci, and Jobadiah Sinclair Weeks in involvement in the scheme. The US Department of Justice charged them with “conspiracy to engage in wire fraud in connection with their roles in the BitClub network.”
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