Pablo Renato Rodriguez, the co-founder of the AirBit Club, a fraudulent project that has caused harm to many people around the world, has just won a 12-year prison sentence followed by three years’ probation.
AirBit Club co-founder sentenced to 12 years in prison and massive forfeitures
After pleading guilty in March before a U.S. District Court for wire fraud, Pablo Rodriguez has just been sentenced to 12 years in prison with three years’ probation.
On September 26, Damian Williams, the U.S. Attorney for the Southern District of New York, issued a scathing statement against Rodriguez. Williams accused him of intentionally deceiving inexperienced investors with false assurances about the legitimacy of their cryptocurrency trading and mining investments.
Thus, Rodriguez is also required to pay a fine of 65 million and dispose of various assets, including a total amount of 3,800 bitcoins ($100 million). This fine also includes his home in Irvine, California, valued at $900,000.
Simultaneously, other co-founders of AirBit Club—including Dos Santos, Scott Hughes, Cecilia Millan, and Karina Chairez—also entered guilty pleas and are currently awaiting their respective sentences.
The AirBit Club and its illusory promises of crypto wealth
2015, AirBit Club was created by attracting investors with the tantalizing promise of generating profits from crypto mining and trading.
Those behind the project have touted passive daily returns, supposedly guaranteed for those who subscribe to their memberships.
The initiators went to great lengths to achieve their ends, organizing extravagant events and local presentations in various countries to persuade victims to invest in AirBit Club.
However, these promises of earnings proved misleading, as no real crypto-related activity was actually being conducted on their behalf.
By 2016, club members wishing to withdraw their winnings were faced with a series of problems, including excuses, delays and exorbitant fees, often reaching more than 50% of the requested amount.
This kind of story should give us food for thought. As we keep telling you, stay vigilant!
As a journalist at Coinpri, I’ve been captivated by the world of bitcoin and blockchain since 2020. The decentralized aspect of Bitcoin particularly piqued my interest. Since then, I’ve been working constantly to spread my knowledge, hoping one day to see a world where everyone fully enjoys their financial freedom.
