Back in April we were made aware of a scam by one man to reap profits from 9/11 by creating fictitious companies, Face Information Technology and Sentry Biometrics. He had convinced investors to part with $2.5 million.
Now his judgement has finally been passed - 6 years in federal prison and an order to repay all the money stolen.
The industry can sometimes be a target for investment scams because it’s a growing technology that people want to be a part of. They aren’t familiar with the way established companies conduct business as a model of what to expect from others in the business. They are usually poorly designed websites, with a lack of contact information, and made up news stories.
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