Head of fake UN-affiliated agency found guilty of cryptocurrency fraud

Asa Saint Clair, the president of a fake United Nations branch, has been convicted of wire fraud, according to a press release issued by the U.S. Attorney's Office for the Southern District of New York.

U.S. Attorney Damian Williams said the World Sports Federation was a bogus organization in St. Clair that defrauded more than 60 people through non-existent ties to the United Nations.

St. Clair promised victims that his IGOBIT digital currency could generate high returns. However, the project in question has never been developed.

Investigators found that St. Clair used the victim's funds for personal purposes, such as paying for a meal at a fancy Manhattan restaurant and buying plane tickets and other luxuries.

It is reported that as early as November 2019, the scammers behind the IGOBIT token were indicted by U.S. prosecutors. He was then placed under house arrest in Arizona in November after posting $500,000 bail. St. Clair tried to flee to Madagascar during an interview with investigators, but he was arrested at the airport. That prompted prosecutors to seek stricter conditions than ever for his release.

The 49-year-old fraudster now faces up to 20 years in prison. His sentencing will be decided on July 19 by Judge P. Kevin Castel.