🚨Crypto enthusiasts, listen up! 🚨 New York resident, Idin Dalpour, has been indicted by the FBI for allegedly organizing a $43 million Ponzi scheme! 😱

From 2020 to 2024, Dalpour reportedly targeted investors in the US and abroad through an entity he controlled, "Entity-1". This entity was involved in cryptocurrency trading and a Las Vegas hospitality enterprise. Dalpour claimed to buy cryptocurrency at wholesale prices and sell it at a profit to retail investors, promising hefty returns and safety for their investments. 📈💰

However, the indictment states that Dalpour didn't use the investors' funds as promised. Instead, he used the money from new investors to pay earlier participants their returns. He also reportedly used the funds for personal expenses, including gambling losses and private school tuition for his children. 😲💸

When investors tried to recover their investments, Dalpour allegedly provided false explanations, including claims of frozen funds due to a hotel server hack and non-existent bank accounts. 😡

In November 2023, Dalpour reportedly confessed to lying about the operation of the Las Vegas business, misuse of investor funds, and fabrication of contracts and bank records. If convicted, he could face up to 20 years in prison for wire fraud. 🚔👮‍♂️

This case is a stark reminder to all crypto enthusiasts to stay vigilant and do their due diligence before investing. Stay safe out there, folks! 🙏🔒