$825,000 in Bitcoin Allegedly Scammed From Ghana Company via Former Basketball Star

By October 21, 2019 Bitcoin Business
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Isaac Edward Austin, a professional basketball player who left the league in 2004, has apparently scammed a company in Ghana out of around $825,000 in Bitcoin, the world’s first cryptocurrency, reports GhanaWeb.com.

It appears that Austin was attempting to pitch a cryptocurrency auto-trading program. He called himself a “trustee” and got the company to sign a document regarding participating in a Bitcoin trade. The plan here would be for Austin’s company to make the project money based on its initial investment in the Bitcoin space, but he has apparently failed to pay them.

Mynewsghana was able to acquire documents regarding the case, in which one victim stated the following on the matter:

“He will take your BTC and you will never get your investment back or your returns. On the day of payment, he will tell you story after story filled with lies of issues why the BTC couldn’t be delivered on the day of payment. From him having a heart attack, to the coin being sent to the wrong wallet, to him being in a queue at the bank, to him waiting for trade to conclude, to the funds being held by the bank. Week after week after week of unresolved issues even when he has confirmed the day before that all is set 1000% to deliver and conclude the transaction. He is a fraudsters of the highest order. Stay away from him. We have all the proof – contracts, letters and messages.”

Refusing to pay

From there, the documents consist of various demands and claims from the company asking Austin to pay up.

“On July 3rd, 2019, you as a Trustee of IEA and Tudor Trust took a BTC Investment from us. These are funds that are due to be paid on that account, specifically in the amount of 75BTC at an agreed strike price of $11,000 per BTC totaling $825,000.”

“We expected this amount to be paid back in full by July 3rd, 2019 as per contract. As it has still not yet been paid back, we expect you to take prompt action to satisfy your financial obligations to us immediately and without any further delay. If payment is not made within the next 48 hours, we reserve the right to take any legal action necessary to recover the full amount without further notice to you. Please be advised this letter may be used as evidence regarding your failure to pay.

However, it appears that Austin hasn’t responded to emails, texts, or WhatsApp messages.

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