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Siblings charged over mining coin that turned into alleged $124M fraud

Published 03/08/2022, 10:05 PM
Updated 03/08/2022, 11:40 PM

A pair of siblings is now in very hot water with the U.S. government with criminal charges filed against them for allegedly committing fraud in the Ormeus Coin scheme.

On Mar. 8, the Securities and Exchange Commission (SEC) charged siblings John Albert Loar Barksdale and sister JonAtina (Tina) Barksdale with violating federal securities laws and allegedly defrauding at least 12,000 “retail investors out of more than $124 million.” The Department of Justice (DOJ) arrested John abroad and charged him with wire fraud, securities fraud, and conspiracy.

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