Cryptocurrency investors have been advised by several news sources to be careful with any involvement in the Ormeus Coin platform after Founder John Barksdale was arrested in Thailand on August 7, 2019.

The popularity of cryptocurrency investment in recent years has seen a proliferation of scam operations. IFW Global is at the forefront of investigating and combatting these investment fraud operations which you can read more about on our Cryptocurrency Scams page.

We’re looking into the alleged fraud surrounding the Ormeus Coin following on from the arrest of its founder and international reporting from a number of sources.

The Daily Mail reported that: “An American cryptocurrency boss was arrested at his luxury apartment in Thailand after he allegedly scammed investors out of hundreds of thousands of dollars.

John Barksdale, 37, from New Jersey, was detained by immigration police at his plush villa on Koh Samui, Thailand after complaints about his ‘Ormeus Coin’ product.

According to Coinmarketcap, the Ormeus Coin was worth more than $48m dollars in December 2017 before it plunged in value. It currently has a market cap of just over $1m.”

Reports have also been made in Thai newspaper The Samui Times, and online business journal Business For Home amongst many others.

If you believe you have been affected by a cryptocurrency scam contact IFW Global today to discuss your situation.