Crypto trader Jeremy Spence, also known as “Coin Signals,” is currently facing fraud allegations. Federal prosecutors have Coin Signals for defrauding investors of investment worth $5 million, in a Ponzi-like scheme. Coin Signal is facing commodities fraud and wire fraud charges. If Spence is found guilty of all charges, he may face a prison term of up to 30 years.
On the 26th of January, the US Department of Justice (DOJ) noted that Coin Signals duped investors from November 2017 till April 2019. The DOJ stated:
