John Barksdale faces up to 65 in prison in connection with Ormeus Coin as well as facing civil charges alongside JonAtina Barksdale
US authorities on Tuesday filed criminal charges against a cryptocurrency executive and civil charges against him and his sister, accusing them of defrauding retail investors out of millions of dollars with a digital token known as Ormeus Coin.
In papers filed in Manhattan federal court, the justice department said John Barksdale lied about the value and profitability of Ormeus Coin’s mining assets, including that the coin was backed by a $250m mining operation generating more than $5m of monthly revenue.
