Abramoff admits guilt in bitcoin fraud case

						Array
(
    [conclusion] => Array
        (
            [0] => 
        )

    [post_sponsor_aff_link] => Array
        (
            [0] => 
        )

    [casino_url] => Array
        (
            [0] => 
        )

    [casino_street_address] => Array
        (
            [0] => 
        )

    [casino_post_code] => Array
        (
            [0] => 
        )

    [year_founded] => Array
        (
            [0] => 
        )

    [withdrawal_limit] => Array
        (
            [0] => 
        )

    [reviewrating] => Array
        (
            [0] => 
        )

    [bestrating] => Array
        (
            [0] => 
        )

    [cgn_score] => Array
        (
            [0] => 
        )

    [casino_key_feature_1] => Array
        (
            [0] => 
        )

    [casino_key_feature_2] => Array
        (
            [0] => 
        )

    [casino_key_feature_3] => Array
        (
            [0] => 
        )

    [bonus_text_top] => Array
        (
            [0] => 
        )

    [bonus_text_bottom] => Array
        (
            [0] => 
        )

    [casino_review_reference] => Array
        (
            [0] => 
        )

    [_wp_page_template] => Array
        (
            [0] => default
        )

    [_thumbnail_id] => Array
        (
            [0] => 14705
        )

    [ppma_authors_name] => Array
        (
            [0] => Tudor
        )

)

Updated September 21, 2022 | Published June 29, 2020

2 mins read

Abramoff, or ‘Casino Jack, was played by Kevin Spacey in 21, and has been a controversial figure from the start. He served three years in prison for participating in a Native American casino lobbying scandal, but it’s because of the AML Bitcoin fraud he participated in that he is now facing another prison stint.

Abramoff was the CEO and founder of the NAC Foundation, an intiative dedicated to the development of the AML Bitcoin, a made-up currency that was never meant to see the light of day. In raising funding for the company, Abramoff made a series of misleading and outright fraudulent claims, arguing that NAC would be able to create a variation of bitcoin that uses biometric data to completely ward any attempts for fraud.

He also promised investors that he would air a commercial during the 2018 Super Bowl game, hoping to establish credibility with potential investors. It has succeeded as his company soon raised $5 million, but he nor his accomplice had no intention of realising AML Bitcoin.

Abramoff further lied about having had a heart-to-heart with government agencies and ensuring investors that his company’s currency would be actionable and have real, steady value.

According to prosecutors, Abramoff managed, together with his accomplice, Rowland Marcus Andrade, to launder $1 million of AML Bitcoin investment money.

The prosecution claimed that the defendants had repeatedly misled over 2,400 investors. The admission of guilty will offer Abramoff some leeway in appealing for a lighter sentence, but in light of his previous misconduct, his optimism should be stifled.

Meanwhile, the world of cryptocurrencies remains full of pitfalls. Yet, some companies have been able to establish a footprint and operate as legitimate entities. For example, Bitcasino.io is a Bitcoin-focused casino, supporting multiple currencies, and operating legitimately for half a decade now. Likewise, other branches of bitcoin have led to successful operations, notably Bitcoin SV.

Looking for your next crypto casino? Check out: Bitcasino or FortuneJack.

Written by Tudor

Works as a developer and helps keeps the digital cogs turning. Leave them alone, they're busy.
Best Casinos to play with…
Bitcoin
1
PLAY NOW
2
PLAY NOW
3
PLAY NOW
4
PLAY NOW
5
PLAY NOW
1
PLAY NOW
2
PLAY NOW
3
PLAY NOW
4
PLAY NOW
5
PLAY NOW
1
PLAY NOW
2
PLAY NOW
3
PLAY NOW
4
PLAY NOW
5
PLAY NOW
THE LEDGER: Biden goes after crypto mining, while Coinbase has a loan moan
The Ledger: ChatGPT forecasts BTC will hit $120k, Coinbase hears London calling

Similar News

Cameron Winklevoss 
								Array
(
    [0] => WP_Term Object
        (
            [term_id] => 7818
            [name] => Cameron Winklevoss
            [slug] => cameron-winklevoss
            [term_group] => 0
            [term_taxonomy_id] => 7818
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 4
            [filter] => raw
        )

    [1] => WP_Term Object
        (
            [term_id] => 3570
            [name] => crypto exchange
            [slug] => crypto-exchange
            [term_group] => 0
            [term_taxonomy_id] => 3570
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 256
            [filter] => raw
        )

    [2] => WP_Term Object
        (
            [term_id] => 8687
            [name] => Dublin
            [slug] => dublin
            [term_group] => 0
            [term_taxonomy_id] => 8687
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 1
            [filter] => raw
        )

    [3] => WP_Term Object
        (
            [term_id] => 5025
            [name] => Gemini
            [slug] => gemini
            [term_group] => 0
            [term_taxonomy_id] => 5025
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 25
            [filter] => raw
        )

    [4] => WP_Term Object
        (
            [term_id] => 8688
            [name] => Ireland
            [slug] => ireland
            [term_group] => 0
            [term_taxonomy_id] => 8688
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 1
            [filter] => raw
        )

    [5] => WP_Term Object
        (
            [term_id] => 8689
            [name] => Leo Varadkar
            [slug] => leo-varadkar
            [term_group] => 0
            [term_taxonomy_id] => 8689
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 1
            [filter] => raw
        )

    [6] => WP_Term Object
        (
            [term_id] => 5044
            [name] => MiCA
            [slug] => mica
            [term_group] => 0
            [term_taxonomy_id] => 5044
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 28
            [filter] => raw
        )

    [7] => WP_Term Object
        (
            [term_id] => 8690
            [name] => Virtual Asset Service Provider
            [slug] => virtual-asset-service-provider
            [term_group] => 0
            [term_taxonomy_id] => 8690
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 1
            [filter] => raw
        )

)

Gemini sets up shop in Ireland

29/05/2023|14:16

Bankrupt crypto lending firm Celsius has picked Fahrenheit’s proposal to manage a new entity to be owned by its creditors,...
Blockchain 
								Array
(
    [0] => WP_Term Object
        (
            [term_id] => 181
            [name] => Blockchain
            [slug] => blockchain
            [term_group] => 0
            [term_taxonomy_id] => 181
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 908
            [filter] => raw
        )

    [1] => WP_Term Object
        (
            [term_id] => 4857
            [name] => Chainalysis
            [slug] => chainalysis
            [term_group] => 0
            [term_taxonomy_id] => 4857
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 42
            [filter] => raw
        )

    [2] => WP_Term Object
        (
            [term_id] => 363
            [name] => China
            [slug] => china
            [term_group] => 0
            [term_taxonomy_id] => 363
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 17
            [filter] => raw
        )

    [3] => WP_Term Object
        (
            [term_id] => 8685
            [name] => fentanyl
            [slug] => fentanyl
            [term_group] => 0
            [term_taxonomy_id] => 8685
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 1
            [filter] => raw
        )

    [4] => WP_Term Object
        (
            [term_id] => 8686
            [name] => narcotics
            [slug] => narcotics
            [term_group] => 0
            [term_taxonomy_id] => 8686
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 1
            [filter] => raw
        )

    [5] => WP_Term Object
        (
            [term_id] => 5495
            [name] => stable coins
            [slug] => stable-coins
            [term_group] => 0
            [term_taxonomy_id] => 5495
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 4
            [filter] => raw
        )

    [6] => WP_Term Object
        (
            [term_id] => 2465
            [name] => tether
            [slug] => tether
            [term_group] => 0
            [term_taxonomy_id] => 2465
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 15
            [filter] => raw
        )

)

Links between China chemical firms and crypto revealed

29/05/2023|08:34

China-based chemical firms have been suspected of supplying fentanyl to drug cartels overseas in exchange for cryptocurrencies. Blockchain research firms...
blockchain casinos 
								Array
(
    [0] => WP_Term Object
        (
            [term_id] => 2812
            [name] => blockchain casinos
            [slug] => blockchain-casinos
            [term_group] => 0
            [term_taxonomy_id] => 2812
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 2
            [filter] => raw
        )

    [1] => WP_Term Object
        (
            [term_id] => 402
            [name] => Crypto Casino
            [slug] => crypto-casino
            [term_group] => 0
            [term_taxonomy_id] => 402
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 30
            [filter] => raw
        )

    [2] => WP_Term Object
        (
            [term_id] => 58
            [name] => esports
            [slug] => esports
            [term_group] => 0
            [term_taxonomy_id] => 58
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 36
            [filter] => raw
        )

    [3] => WP_Term Object
        (
            [term_id] => 4162
            [name] => esports betting
            [slug] => esports-betting
            [term_group] => 0
            [term_taxonomy_id] => 4162
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 2
            [filter] => raw
        )

    [4] => WP_Term Object
        (
            [term_id] => 8683
            [name] => Evil Geniuses
            [slug] => evil-geniuses
            [term_group] => 0
            [term_taxonomy_id] => 8683
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 1
            [filter] => raw
        )

    [5] => WP_Term Object
        (
            [term_id] => 8684
            [name] => Thunderpick
            [slug] => thunderpick
            [term_group] => 0
            [term_taxonomy_id] => 8684
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 1
            [filter] => raw
        )

    [6] => WP_Term Object
        (
            [term_id] => 6185
            [name] => women
            [slug] => women
            [term_group] => 0
            [term_taxonomy_id] => 6185
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 2
            [filter] => raw
        )

)

Evil Geniuses partners with Thunderpick crypto casino

29/05/2023|00:34

Esports organization Evil Geniuses has joined with the cryptocurrency betting platform Thunderpick. The partnership will see Thunderpick become Evil Geniuses's...