The US Department of Justice says over $400 million in forfeited assets are now available to compensate victims of the AirBit Club Ponzi scheme.
Operators marketed AirBit Club as a cryptocurrency mining and trading firm promising guaranteed returns. Co-founders Pablo Renato Rodriguez and Gutemberg Dos Santos, promoters Cecilia Millan and Karina Chairez, and attorney Scott Hughes were sentenced in 2023 for their roles in the fraud.
The government has now launched a remission process, with over $400 million in assets-including real estate, cash, and crypto-set aside for victims. A remission administrator, RCB Fund Services, will contact eligible victims who previously provided information to the FBI or U.S. Attorney’s Office.
Assistant Attorney General A. Tysen Duva stated that the defendants exploited virtual currency's popularity to recruit victims, but that convictions and asset recoveries have enabled this significant compensation effort.