Lambo, Land Rovers taken during $22M ICO fraud investigation

In Canada, authorities have seized luxury cars and frozen bank accounts owned by the ringleaders of FUEL, an allegedly fraudulent $22-million initial coin offering (ICO) from 2017. Court documents claim “blockchain services company” Vanbex raised $22 million (CAD$30 million) in cryptocurrency and fiat by with absolutely no intention to develop the FUEL token, reports CoinDesk. Instead, Canada‘s director of civil forfeiture said Vanbex founders Kevin Hobbs and Lisa Cheng used the money to fund a lavish lifestyle, which included the purchase two new Land Rovers, a $3 million (CAD$4 million) Vancouver condominium, as well as the leasing of a Lamborghini Aventador S.…

This story continues at The Next Web

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s