Cryptocurrency fraud is all too common in this primarily unregulated sector. Minh Tam, CEO of Sky Mining, is held responsible for stealing $ 36 million from investors before fleeing to the United States. A new petition on Change.org now requires his extradition from the United States to face the appropriate convictions.
Le Minh Tam is a Non-Grate Person
The controversy surrounding Sky Mining has been going on for some time. Any mining operation in the world of cryptocurrencies will be examined and, in the case of Sky Mining CEO Le Minh Tam, the review will be more than justified. After raising $ 36 million from investors, he decided to run away with the money shortly after collecting it.
Investors have paid up to $ 5,000 for the mining units sold by the company. A full return on investment has been promised, as well as profits up to 300 percent. These rates attract a lot of attention, even if they are not sustainable. The money guaranteed with the extraction of cryptocurrencies does not exist. Volatile price changes make it impossible to continuously transform profits, not to mention the exaggerated percentages promised by Sky Mining.
Obviously, Tam denies any guilt, arguing that the parent company Sky Mining is the real culprit. In addition to the disappearance of investor money, all mining equipment was apparently removed from a factory leased by the company. The scam of the exit caused an uproar within the cryptocurrency community as investors want to see their investments repaid and will do everything to make it happen.
Extradition Demands of Popularity  A petition on the Change.org platform shows Le Minh Tam is a sought-after individual. Over 800 people signed the petition requesting his extradition from the United States. Sky Mining has made victims in Vietnam, but also in other countries. As such, this scam must be properly examined and scammers must be brought to justice. Investors want to expose Le Minh Tam and its shares as soon as possible.
The HCMC police department attempted to keep Tam's movements in check. They know he flew to Doha, Qatar on July 22nd, with the final destination being unclear. The Change.org petition states that it now resides in the United States, however, this request has not yet been confirmed by official sources at this stage. Finding your exact location could be a big challenge. If it is in the United States, bringing it back to Vietnam could prove problematic as the country has no extradition treaty with the United States.
Do you think Le Minh Tam is hiding in the United States? In that case, should it be extradited to Vietnam to deal with the charges? Let us know in the comments below.
Images courtesy of Shutterstock, Change.org