Crypto Youtube Promoter Charged with Fraud for luring investors, be careful



hello and welcome to the cryptocurrency news channel today we're going to talk about something important there's a crypto promoter on YouTube and that he has been accused of luring investors in a scam via YouTube so no this isn't someone that's just hiking and caught up it's you're perfectly free to do that or even selling lessons you're perfectly free to do that as well those are not illegal this however is a different story and you guys need to watch out for this if anyone else does this so federal investigators have unmasked a crypto currency pitchman who dawns on a guy Foxe you know like the old masse things on his YouTube video charging it with wire fraud so his name is Patrick McDonald he's 46 and he lives in New York City and he used smoke and mirrors to allegedly dupe investors into paying his company cabbage tech so don't pay cabbage tech we get an email for advice and strategies on cryptocurrency trading I said Postal Inspection Service Service agent Phillip Bartlett in a news release announcing his arrest and the 40 minute YouTube video shows McDonald and a guy Fawkes mask associated with the hacktivist group Anonymous a pitching investors as he talked about any ties he talks about virtual cash like Bitcoin um persecutor said McDonald uses bogus bank statements to inform investors that their virtual currency investments were doing well so he used fake bank statements to actually tell investors that their that their cryptocurrency investments are doing well he took wire transfers and money from his investors or clients and basically he defrauded him of money um it was alleged that the money he obtained from investors was spent for his personal use which is not surprising he just took the money and spit it on himself and the indictment alleges that cabbage tech operated a website using the name using the name coin drop markets and that he scammed investors out of US currency and virtual currency like Bitcoin and litecoin so this is a scam and he plead not guilty and he was ordered detained without bail so last year a judge ordered McDonald to pay more than 1.1 million dollars in restitution civil penalties in a crypto fraud lawsuit brought by the US Commodity Futures Trading Commission so the C GFC so this is not the first time this guy pulled pulled this trick on you but you guys need to really really um if there's anyone on YouTube that saying that they'll help you invest no I get these comments all the time on videos I try to keep them off of all my videos I try to delete them as soon as I see them but my spam net can't catch all of them if you ever see those videos where I was just like hey contact this guy for crypto trading advice don't actually do that never do that because it's very likely that it's someone like this um you know for for the other channels for channels that like you know I want you to pay for a lesson those are actually generally fine you're just paying for some like knowledge that they have that's perfect that that's fine I mean I don't really suggest it because I personally think experience and you know like just reading news in the market it's probably gonna do you a lot better than it course or anything but those are perfectly fine those are those are like you know not illegal they're legal and it's your choice whether you want to buy them or not but if anyone wants you to transfer them money so they'll personally help you invest never never do that and be aware that there's scams like this out everywhere so yeah those those are comments that are always present in like every cryptocurrency video in a matter of which channel the ones that are like ah mister blah blah blah help me make 40 million dollars and you can you know contact him here never do that those who probably scams like this one and they should never never be believed all right so that is the report for today this guy has been arrested again and he did use YouTube to actually defraud a lot of people to send you money or cryptocurrency and they finally caught him but there are many other scam artists out there many not within the United States so if you send them money you're never gonna see it again that's the same thing for those programs that say like Oh send me 1.1 aetherium and I will send you like three thousand aetherium or something those are all fake as well so don't ever don't ever send anyone on YouTube like you feel unless they're like I'll write about what they're actually going to do with it you know the donation so the crypto channels are fine because you know what they're gonna do with it is is basically donation to them but if someone's telling you to like hey send me point one crypto and I'll send you one a period that's completely false and so are the ones that are telling like how great some guy is and how much he helped him in crypto and leaving an email address you never contact that person so that is today's report so I have my Twitter it's in the description also like and 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7 thoughts on “Crypto Youtube Promoter Charged with Fraud for luring investors, be careful”

  1. Why would anyone trust someone giving financial advice in a Guy Fawkes mask? LOL…Maybe if you wanted to overthrow a government, but investments? C'mon…

  2. @3:38 did you say Bob Loblaw??😲😲😲😲😲 I thought Bob Loblaw was a legit guy! I would have never thought he was into all this. It’s a sad day with that news…why, Bob Loblaw, why???

  3. Sounds like this scammer ran a business just like Wells Fargo except he did not get away with it. You need to call it Klepto Kurrency so what is going on is clear. It is all a scam if you are paying attention.

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