Denver Resident Convicted for Illegal Gambling Operation Involving Fake Cryptocurrency
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September 19, 2024
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ChainCatcher reports that Jonathan Arvay, 38, of Denver, was convicted of conspiracy to operate an illegal gambling network.
His gambling operation spanned multiple game rooms in Colorado and used electronic games and a fake cryptocurrency, Obsidian Digital Asset Coin (ODAC), to mask the exchange of points for cash. This cryptocurrency's sole purpose was to exchange cash at "cryptocurrency ATMs" alongside or inside the casinos, revealing money laundering and fraud.
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