Justice Department seizes over 112 million in fraudulent crypto scheme

PHOENIX — The Department of Justice announced Monday that it seized over $112 million linked to cryptocurrency investment scams in Arizona, California and Idaho. In the scams, the suspects made long-term relationships with the victims online and enticed them to invest in fraudulent trading platforms. Instead, the money was sent to the scammers’ crypto addresses and accounts. “Transnational criminal organizations are combining confidence scams with technological savvy to swindle Americans out of their hard-earned funds,” Assistant Attorney General Kenneth A. Polite Jr. said in the press release. “These particularly vicious frauds – where scammers carefully cultivate relationships with their victims…