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Siblings Accused of $124 Million Crypto Scam Ran Times Square Ad

  • Brother and sister fined by SEC for fraudulent token offering
  • John Barksdale criminally charged by Justice Department
Ormeus Coin

Ormeus Coin

Source: Ormeus Coin via Business Wire

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A pair of siblings made false statements about a cryptocurrency and defrauded thousands of mom-and-pop investors out of more than $124 million, according to a federal regulator. 

Starting in June 2017, John Barksdale, 41, and his sister, JonAtina, 45, lied to investors about the Ormeus Coin and falsely promoted the token as being backed by one of the largest crypto mining operations in the world, according to a statement from the Securities and Exchange Commission. John Barksdale, a U.S. citizen living in Thailand, was arrested abroad on Tuesday for making false statements, according to a separate filing from the Justice Department.