A Nevada man named Bryan Lee has been charged for his alleged involvement in the CoinDeal investment fraud scheme, which defrauded over 10,000 victims of more than $45 million.
Lee, along with Neil Chandran and others, is accused of conspiring to defraud investors in companies controlled by Chandran, operating under the name “ViRSE.” These companies claimed to be developing virtual-world technologies and their own cryptocurrency for use in a metaverse. Lee, as the nominee owner and director of ViMarket, allegedly misappropriated millions of dollars of investor funds, spending them on luxury cars and real estate.
He now faces multiple charges, including conspiracy, mail fraud, wire fraud, and engaging in monetary transactions with criminally derived property. If convicted, he could potentially be sentenced to up to 20 years in prison for wire fraud, mail fraud, and conspiracy counts, and up to 10 years for each count of engaging in unlawful monetary transactions.
Chandran, who was arrested in June 2022, and Michael Glaspie, who marketed the investment as “CoinDeal,” have also been implicated in the scheme.
The case is being investigated by the FBI Washington Field Office, with assistance from the FBI Las Vegas and Omaha Field Offices. Assistant Attorney General Kenneth A. Polite, Jr. of the Justice Department’s Criminal Division, U.S. Attorney Steven A. Russell, and FBI officials made the announcement.
All victims of this fraud are encouraged to visit the provided webpage to identify themselves and learn about their rights, including the opportunity to submit a victim impact statement.
