US charges 2 siblings in $124 million crypto fraud operation

The US SEC has charged two siblings, John and JonAtina Barksdale, accusing them of defrauding retail investors out of more than $124 million with a digital token known as Ormeus Coin. Since 2017, the accused had allegedly raised $124 million from over 20,000 investors. They promoted Ormeus Coin through roadshows and social media, as well as a Times Square jumbotron.