Stuart Man Pleads Guilty to $100 Million Cryptocurrency Investment Fraud Scheme

Joshua David Nicholas claimed that EmpiresX operated trading bot that used artificial intelligence to maximize profitability

WEST PALM BEACH, Fla. — A Stuart man pleaded guilty Thursday to conspiracy to commit securities fraud in connection with a global cryptocurrency-based Ponzi scheme that amassed about $100 million from investors.

Joshua David Nicholas, 28, of Stuart, was indicted in June by a South Florida federal grand jury in the case.

Nicholas was the “head trader” for EmpiresX, a purported cryptocurrency platform, according to court documents.

The U.S. Department of Justice said that Nicholas admitted that he and others fraudulently promoted EmpiresX by making numerous misrepresentations.


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