Former Deutsche Bank employee charged by U.S. prosecutors for involvement in crypto fraud

ChainCatcher news, a former investment banker at Deutsche Bank has been charged by U.S. prosecutors with participating in a crypto fraud scheme, falsely promising investors high returns and using their funds for gambling or to sustain a Ponzi scheme. 27-year-old Rashawn Russell was arrested on Monday and is charged with wire fraud, which could result in up to 20 years in prison if convicted.

He allegedly forged documents to deceive clients, sending one investor a screenshot of a bank balance of approximately $355,000, while the actual balance was less than $35,000. During a hearing on Tuesday afternoon, Russell pleaded not guilty. He posted a $200,000 bail and was ordered to appear in court again on May 9. (source link)