US Attorney’s Office Files Civil Forfeiture Action to Recover Proceeds of Cryptocurrency Investment Fraud Scheme | USAO-MA


BOSTON — The United States Attorney’s Office has filed a civil forfeiture action to recover 73,586 USDT (Tether), a cryptocurrency alleged to be the proceeds of an online investment fraud scheme. Tether is a cryptocurrency unit whose value is equivalent to one US dollar.

In January 2022, federal agents began investigating an investment fraud scheme that targeted a Massachusetts victim. The victim had been contacted in October 2021 via LinkedIn. After further communication in Chinese through another app, the victim was tricked into making what they believed to be a legitimate cryptocurrency investment. The victim was tricked into downloading an app that appeared to be a legitimate but fraudulent cryptocurrency platform and then invested money through this fraudulent site.

After the victim reported the crime, federal agents traced some of the victim’s invested funds to another cryptocurrency wallet, resulting in the seizure of 73,586 USDT. It is a violation of federal law to use wire communications in any scheme to defraud or obtain money or property through false or fraudulent pretenses. A civil forfeiture action allows third parties to assert rights to property, which must be resolved before the property can be forfeited in the United States and returned to victims.

United States Attorney Rachael S. Rollins and Andrew Murphy, Special Agent in Charge, United States Secret Service, Boston Field Office, made the announcement today. Assistant United States Attorney Alexandra W. Amrhein of Rollins’ Asset Recovery Unit is pursuing the civil action for forfeiture.

The details contained in the civil forfeiture complaint are allegations. The United States Attorney’s Office has not filed a corresponding criminal action in this regard.

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