Bitcoin

Michael Caruso and Zachary Salter will have to answer to justice

February 8, 2020 by Victor

Michael Caruso, age 28, and Zachary Salter, aged 27 years, presented as being crypto-investors to success by Forbes magazine, have been unmasked their scheme. Among other things, they have hidden a ploy of Ponzi scheme behind their investment firm crypto, referred to as Zima Digital Assets.

The elderly taken as a target

Caruso and Salter have managed to lure more people to invest in crypto-currencies via their business through the exhibition of a dream life on social media. They have also claimed to have more than a billion in assets under management, through a video published on the web.
Since the month of June in the year 2018, more than 90 investors have succumbed to such nonsense of these two characters, and this, with at least $ 7.5 million of assets in the investment. Among the victims are former players of baseball professionals, as well as a good number of elderly people.

Fund an opulent lifestyle

On its website, Zima claims to manage several private funds that focus on investments in advanced technologies, such as crypto-currencies, and yet the amounts invested were not allocated to their alleged destination, namely in funds in crypto-currencies.
In truth, Caruso and Salter would have used the money to live their lavish lifestyle. They have spent $ 350 000 for the rental of luxury cars, 610 000 dollars for private jets, as well as other large sums for the purchase of a variety of jewelry and clothing brand and the rental of the manor house, that they have nicknamed the castle Krypto.
They have also lost nearly 830 000 134 hours of game play in the casinos of Las Vegas. Moreover, Caruso, the one who called Krypto King, would have also offered a fleet of luxury cars, including a Lamborghini, with the money of the investors.
What do you think of the proliferation of schemes Ponzi schemes in the crypto-sphere ? Let us know your opinion in the comment section below.
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About the author

Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.

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