U.S. Department of Justice (DOJ) Two people have been accused of their role in Omegapro, a crypto and investment Ponzi scheme that deceived more than $650 million in investors.
Michael Shannon Sims, founder and sponsor of Omegapro and Juan Carlos Reynoso, who leads Omegapro’s operations in Latin America and operations in certain parts of the United States, are accused of conspiring to commit wire fraud and money laundering, According to the published documents Tuesday.
Omegapro is an international investment program that went bankrupt in 2022. In 2024, Andreas Szakacs, the co-founder of the program Arrested in Türkiye In his involvement in Omegapro.
“As the alleged defendants preyed on vulnerable individuals in the United States and abroad, defrauding them of more than $650 million in funding by making false promises of considerable returns,” said Matthew R. Galeotti, head of the Justice Department’s criminal division.
Omegapro was founded by Sims and others in early 2019. According to the filing, the defendants and others promised 300% of investors to return within 16 months through forex trading. Instruct investors to use cryptocurrency to purchase these investment packages.
Read more: Omegapro Co-founder Arrested in Türkiye on Suspected of $4B PONZI Plan: Report
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