CyberFraud Safety Agency Founder Defrauded Traders For Hundreds of thousands

Adam Rogas, co-founder of a Las Vegas-based cyberfraud prevention firm NS8, Inc., has been sentenced to 5 years in jail for defrauding traders for over $123 million, the Division of Justice announced on Thursday. Rogas tricked traders by falsifying monetary statements displaying inflated values of property and income, most of which didn’t exist.

“Adam Rogas took the ‘fake-it-till-you-make-it’ saying to a legal excessive,” mentioned U.S Lawyer Damian Williams. “Whereas claiming to be within the fraud prevention enterprise, Rogas himself faked almost all of his firm’s prospects, income, and property.” From January 2019 to February 2020, some 40 p.c and 95 p.c of the whole purported property of NS8 had been false.