On September 19, 2023, a federal grand jury in Phoenix, Arizona, unsealed a 55-count indictment against Luis Ortega and Jeremie Sowerby, accusing them of Wire Fraud and Transactional Money Laundering. The charges stem from an elaborate cryptocurrency investment scheme where the duo allegedly defrauded hundreds of victims out of millions of dollars.
Operating under three entities, Ortega and Sowerby promoted a “risk-free” investment opportunity involving Bitcoin mining machines and a proprietary cryptocurrency called “Millennium.” The indictment reveals that promises of immediate profits and luxurious giveaways were nothing but a façade, as the funds were redirected to the defendants’ controlled bank accounts.
Two Arizona Scammers Charged in Cryptocurrency Investment Scheme https://t.co/0lxPQfSQTO
— US Attorney Arizona (@USAO_AZ) November 16, 2023
Wire fraud convictions carry a maximum penalty of 20 years in prison, along with a $250,000 fine, while transactional money laundering convictions could result in a maximum 10-year prison term and a fine of up to $250,000. The FBI and IRS Criminal Investigation are leading the probe, with the U.S. Attorney’s Office, District of Arizona, Phoenix, handling prosecution.
While several victims have been identified, there are indications that others remain undiscovered. Individuals who suspect they were defrauded are urged to contact the Victim Witness Section at the U.S. Attorney’s Office for the District of Arizona. For more information or to report potential victimization, visit the provided link.
