A federal jury in San Francisco has convicted Japheth Dillman, 48, the founder of cryptocurrency trading fund Block Bits Capital, of wire fraud and conspiracy after a 10-day trial. Prosecutor
A federal jury in San Francisco has convicted Japheth Dillman, 48, the founder of cryptocurrency trading fund Block Bits Capital, of wire fraud and conspiracy after a 10-day trial. Prosecutors demonstrated that Dillman sold investors on automated trading software he knew was not functional, the Justice Department announced Monday.
Between June 2017 and August 2018, Dillman raised close to $1 million from more than 20 investors. He told them Block Bits Capital would generate returns through automated cryptocurrency trading powered by a proprietary tool called the ‘Autotrader,’ which he claimed was complete and operational.
