The U.S. Department of Justice has charged two men in connection with a $650 million forex and Crypto Assets fraud case.

PANews, July 9 news, according to The Block report, the U.S. Department of Justice disclosed that Georgia resident Michael Shannon Sims (48 years old) and New Jersey resident Juan Carlos Reynoso (57 years old) have been charged with operating the international scam project OmegaPro, involving an amount of 650 million dollars. The two men promoted "forex investment packages" to investors through a multi-level marketing model, promising a 300% return within 16 months and requiring payment in Crypto Assets. The indictment shows that the defendant's team created a luxurious image by showcasing luxury cars, vacation photos, and projecting the company logo on the Burj Khalifa in Dubai, and later froze investors' withdrawals under the pretext of "hacking attacks," transferring funds to encryption wallets controlled by executives. Sims is the founder and promoter of OmegaPro, while Reynoso leads the company's operations in Latin America and the United States. The two defendants each face two conspiracy charges, with a maximum sentence of 20 years in prison for each count if convicted.