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    <p>Two fraudsters in the <a rel="noopener noreferrer nofollow" title="UK" href="https://thebittimes.com/tag/uk.html">UK</a> have been jailed for six years following ‘Operation Curry,’ a police investigation into a scam that used cold-calling to trick victims into investing in a completely fictitious <a rel="noopener noreferrer nofollow" title="Crypto" href="https://thebittimes.com/tag/crypto.html">Crypto</a>currency called Telecoin.&nbsp;</p> 
    <p>Ross Jay, 33, and Michael Freckleton, 37, were charged with conspiracy to defraud and <a rel="noopener noreferrer nofollow" title="sentenced" href="https://thebittimes.com/tag/sentenced.html">sentenced</a> in Southwark Crown Court last Friday, according to City of London Police.&nbsp;&nbsp;</p> 
    <p>The pair invented Telecoin and a fake company called ‘Digi Ex.’ They then sold shares in the made-up <a rel="noopener noreferrer nofollow" title="Crypto" href="https://thebittimes.com/tag/crypto.html">Crypto</a>, luring victims with talk of a lucrative emerging market.</p> 
    <p>Chief Inspector Lee Parish from City of London Police’s fraud team said: “<strong>Jay and Freckleton exploited this mindset</strong> and knowingly chose to simply take the victims’ money for their own financial gain, with no intention whatsoever of providing a service that even resembled a credible investment.”</p> 
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        Drug gang used Coinbase to launder crypto from prison 
      </blockquote><iframe class="wp-embedded-content" sandbox="allow-scripts" security="restricted" style="position: absolute; clip: rect(1px, 1px, 1px, 1px);" title="“Drug gang used Coinbase to launder crypto from prison” — Protos" src="https://protos.com/drug-gang-used-coinbase-to-launder-crypto-from-prison/embed/#?secret=r41bXWEMme#?secret=uT37Orgc3A" data-secret="uT37Orgc3A" width="500" height="282" frameborder="0" marginwidth="0" marginheight="0" scrolling="no"></iframe> 
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    <p><em>Read more: Worldcoin eyed by <a rel="noopener noreferrer nofollow" title="UK" href="https://thebittimes.com/tag/uk.html">UK</a> data watchdog day after launch avoided US</em></p> 
    <p>The Telecoin name was used to create a shell company and make the scam look more legitimate, but it never saw a penny of investor money. At least £400,000 was stolen from investors and <strong>the duo’s Digi Ex account received a total of £509,599</strong>. The pair each paid themselves salaries of £139,000 and withdrew £145,000 in cash.&nbsp;</p> 
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Two sentenced after Telecoin crypto scam ended by 'Operation Curry'

TheBitTimes

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