PHOENIX — Jeremie Sowerby was arrested the last week of November on charges of defrauding people by telling them they could make limitless profits using "Millenium" bitcoins. He and a co-defendant shared 55 counts based on alleged frauds.
Sowerby, 45 of Fountain Hills, was hit with another indictment Dec. 5, this one alleging that he bilked an Arizona physician out of $207,000 in a scheme that allegedly offered "risk free" investments in hedge funds that used bots to mine algorithms to invest in stock markets.
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Sowerby, the indictment alleges, told the physician he could withdraw his money at any time in cash or Bitcoin. However, it's alleged, Sowerby took the investment and used it for himself, including issuing an $83,000 cashiers check to an entity he owned.
This indictment is for wire fraud, which potentially carries 20 years imprisonment and a $250,000 fine. A conviction for transactional laundering -- also charged in the indictment -- carries a possible sentence of 10 years and $250,000 fine.
*Editor's Note: The above video is from an earlier broadcast.*
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