According to Foresight News, Idin Dalpour has been charged with wire fraud related to a multi-year Ponzi scheme by Damian Williams, a federal prosecutor in the Southern District of New York, and the Federal Bureau of Investigation (FBI). Dalpour is accused of defrauding at least $43 million over four years.
Dalpour allegedly lured victims into investing in a Las Vegas hotel business and a cryptocurrency trading business with false promises of high returns. As part of the cryptocurrency trading scheme, he claimed to have purchased cryptocurrencies in bulk and sold them to retail investors for profit.