Two masterminds of the Telecoin cryptocurrency scam will each serve more than six years in jail after a court in the United Kingdom found them guilty of fraud. According to Lee Parish, the detective chief inspector, the duo used the allure of crypto investment to dupe prospective investors.
Fraudulent Sale of Shares
A court in the United Kingdom has convicted and jailed masterminds of the Telecoin cryptocurrency scam Ross Jay and Michael Freckleton to more than six years in prison each. In sentencing the duo, the Southwark Crown Court said Jay and Freckleton had orchestrated a fraudulent sale of shares and used the proceeds for personal gain.
According to a statement on the City of London Police website, the duo perpetrated the scam between 2015 and 2017. During this period, the two scammers successfully convinced their victims to deposit a little over $650,000 into a bank account which they controlled via their company Digi Ex.
Commenting on how Jay and Freckleton were able to dupe v
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