Florida Man accuses Denver Crypto School of Fake Crypto Exchange

An investor says that a fraudulent online trading school in downtown Denver has teamed up with a false cryptocurrency scholarship in Cherry Creek to deprive it of $ 860,000.

Brian Firestone of Florida says that he was approached in December by a man named John Smith with the Alpha Stock Investment Training Center. Smith offered to teach Firestone how to exchange cryptocurrencies and offered him $ 500 to start, according to the Florida man.

The Alpha Stock Investment Training Center, which listed an address of 1660, rue Lincoln on its now unprecedented website, advised people to exchange Crypto through Coinbridge Partners, a company at 950 S. Cherry St. which claims to have raised $ 10 million from 600 investors last year.

“Coinbridge is really an entirely false exchange,” wrote Firestone in a trial on June 11.

Investments in Alpha shares have engaged in what is called signal trading, in which “teachers” Messait Firestone and others with a recommended profession at a time defined, let’s say at 5 pm “students” click to accept trade and their Coinbridge account buys or sells a cryptocurrency as a result.

Firestone says that the $ 500 initials given to it quickly multiply at $ 55,000. Thus, in January, he invested $ 50,000. In a few weeks, the balance of his Coinbridge account was $ 2 million, he said.

“Professor, I must thank you,” he sent Smith on February 8, according to his trial. “My results were exceptional. Thank you for leaving me in this job today. It’s so exciting! “

But a bad exchange then sent the balance of his account in free fall at only $ 12,000. Without being discouraged, he decided to invest an additional $ 800,000 at Alpha Stock Investment: $ 470,000 in cash and $ 330,000 borrowed from school, he recalls. The balance of his account quickly increased to $ 24.5 million.

Then, March 9 came the signal of its biggest trade: an investment in the USDT cryptocurrency, which is set for the US dollar. But he couldn’t click to accept it.

“I can’t close it,” he made a message to Smith. Then, panicking: “I neciding the clpscoe.”

Firestone was later informed that a “system error” blocked trade and, inexplicably, also suffered $ 24.5 million in his Coinbridge account. His trial alleys that the investment in ALPHA shares “intentionally sabotaged his profession to empty his Coinbridge account again”.

However, he has not finished. Two days later, Firestone borrowed $ 1 million from the training center and started to exchange again. His account quickly showed a balance of $ 6.6 million. But this $ 330,000 loan came. He paid $ 200,000 in US dollars but could not pay the rest and ASITC would not accept crypto as payment. Thus, on May 1, the school closed its Coinbridge account.

Between January and March, Firestone made 11 payments totaling $ 861,570 in ASITC and Coinbridge, according to the trial he filed in the Federal Court of Denver last week. With hindsight, he now believes that all this – signals, gains, losses – was false.