A 50-year-old man who involved at least 60 investors in a crypto investment scam backed by the son of Nancy Pelosi has been sentenced by the Department of Justice.
- Asa Saint Clair, also known as Asa Williams, was charged with an illegal crypto investment scheme involving $600,000. He falsely claimed that his firm partnered with the World Sports Alliance (WSA), an affiliate of the United Nations.
- Asa Saint Clair deceived at least 60 investors by claiming that his firm aims to “improve the world.” He also tied his company with a crypto coin called IGObit. Saint Clair convinced his victims to believe that their investments can further bring such goals to fruition and earn profits.
- These claims made by Asa Saint Clair were false as he used their investments for expenses such as luxurious restaurant dinners, traveling, and online shopping. He also diverted some funds to other assets controlled by him and his family.
- This $600,000 investment scam occurred between 2017 and 2019, claiming sources of livelihood from his victims. However, in January 2018, Paul Pelosi Jr. endorsed this scam crypto investment on his website, saying, “IGObit is the absolute best offering I have ever seen.”
- In a press release, Asa Saint Clair describes Pelosi Jr as a longtime business and personal associate. Initially, Asa Williams pleaded not guilty, but in March 2020, the jury found him guilty. He faces charges of wire fraud and was sentenced to 42 months in prison. Also, he has been ordered to pay a restitution sum of $613,417.
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