Former Cred execs face wire fraud and money laundering charges

Project DESFT is meant to encourage trade between small businesses using a CBDC and a stablecoin, emphasizing credentialing.

The Australian Securities and Exchange Commission claims that John Louis Anthony Bigatton promoted the crypto lending platform at four seminars and via two social media posts.

The scammers convinced victims to transfer millions of dollars into U.S. bank accounts, which were then used to launder the illicit funds.