John Barksdale (full name: John Albert Loar Barksdale) is a 40 year old man and the head of the Ormeus Coin company. The Department of Justice has accused Barksdale of fraud through the sale of Ormeus coin cryptocurrency.
John Barksdale Allegations
Barksdale Arrested By DOJ On Multiple Charges. “Damian Williams, the United States Attorney for the Southern District of New York, and Ricky Patel, Acting Special Agent in Charge of the New York Field Office of Homeland Security Investigations (“HSI”), announced today that JOHN ALBERT LOAR BARKSDALE was arrested abroad on conspiracy, securities fraud, and wire fraud charges.” [DOJ]
Barksdale Facing Multiple Charges. “BARKSDALE, 40, is charged with one count of conspiracy to commit securities fraud, one count of securities fraud, one count of conspiracy to commit wire fraud, and one count of wire fraud. Conspiracy to commit securities fraud carries a maximum sentence of five years in prison.” [DOJ]
DOJ: Ormeus Coin Part Of Crypto Scam. “The charges arise from a scheme perpetrated by BARKSDALE to sell a cryptocurrency token called Ormeus Coin (asset symbol “ORME”) through false representations regarding the size, value, and purported profitability of Ormeus Coin’s cryptocurrency mining assets.” [DOJ]
DOJ: Barksdale Lied About Ormeus Connection To Crypto Mining. “In particular, through a series of marketing materials designed to sell Ormeus Coin, BARKSDALE and others falsely represented, among other things, that Ormeus Coin was secured by a $250 million cryptocurrency mining operation, which would have been one of the largest such operations in the world, and that its mining revenues exceeded $5 million on a monthly basis. ” [DOJ]
DOJ: Barksdale/Ormeus Used Times Square Billboard For Crypto Scam. “U.S. Attorney Damian Williams said: “As alleged, John Barksdale perpetrated a scheme to sell the cryptocurrency Ormeus Coin to investors around the world through a web of lies, which he spread through in-person roadshows, social media, and even a jumbotron in Times Square. Among other allegedly false statements he made, Barksdale lied that Ormeus Coin was secured by a $250 million cryptocurrency mining operation that had revenues exceeding $5 million per month, when in fact Ormeus’s mining operations never approached such a value or had such revenues. Together with our law enforcement partners here and abroad, we will work tirelessly to prosecute those who commit frauds against the public in connection with the sale of cryptocurrencies.”” [DOJ]
DOJ: Ormeus, Barksdale Duped Over 8000 Investors For $70 Million. “Numerous investors purchased enrollment packages through Ormeus Global and purchased Ormeus Coin through digital currency exchanges or directly from BARKSDALE and his associates. Investors made these purchases based at least in part on BARKSDALE’s false representations regarding the size, value, and purported profitability of the cryptocurrency mining assets controlled by Ormeus Global and Ormeus Coin, as well as the purported security that the ORV provided to the value of Ormeus Coin. Through this scheme, from in or about June 2017 through at least in or about April 2018, Ormeus Global raised at least approximately $70 million from the sale of enrollment packages to more than 8,000 investors around the world.” [DOJ]
One of the first political bloggers in the world, Oliver Willis has operated OliverWillis.com since 2000. Contributor at Media Matters for America and The American Independent. Follow on Twitter at @owillis. Full bio.
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