A private detective scammed hundreds of investors in a cryptocurrency fraud, then faked his own disappearance to make off with millions that he blew on jewelry, home improvements, and a Porsche, a newly unsealed criminal complaint alleges.

John DeMarr was arrested Monday morning by the FBI in Santa Ana, California. Federal authorities say that he and two associates pocketed more than $11 million in ill-gotten gains.

According to the complaint, DeMarr convinced retail investors to buy into “Bitcoiin,” a now-defunct cryptocurrency also known as “Bitcoiin2Gen” or “B2G.” The bizarre case involves C-list actor and martial artist Steven Seagal, who briefly served as a celebrity pitchman for B2G but is not charged with any crimes.

Read More: Steven Seagal, a Missing Private Eye, and an Alleged Crypto Fraud

2021-02-02 02:34:00

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