[Translation] Arrest! The FBI seized $300,000 from two Morgan Stanley bankers' brothers in two fraudulent ICOs.

There seem to be no end to the unpleasant stories surrounding ICOs.

I came here attracted by the idea of decentralization, but I wonder if a world not controlled by centralization (or by the subset with equivalent influence) would inevitably become a dog-eat-dog world (or a wolf-eat-dog world), you know?

I still feel that humanity is better off with something semi-decentralized, every time a bad story arises.

Shall we quickly read the details of the incident in Japanese?

Arrest! FBI seized $300,000 from two Morgan Stanley banker brothers in two fraudulent ICOs

Recently, FBI agents arrested Maksim Zaslavskiy, a banker at Morgan Stanley and brother of the Zaslavskiy pair, at his Brooklyn home, for deceiving investors and taking $300,000 in two initial coin offerings (ICOs).

Maksim Zaslavskiy, an 38-year-old businessman, organized two ICOs with fraudulent intent. He claimed those projects would be backed by real estate and diamond investments, but in reality they were only scams for his own profit.

One of them, the REcoin ICO, was promoted as “the world’s first cryptocurrency backed by real estate.” Court records reveal that investors were told they could borrow cryptocurrency and profit through REcoin’s investments in the United States, Europe, Canada, Australia, and Japan.