March 21, 2023

to withdraw their supposed earnings. Instead, the funds were used to pay off earlier investors and to enrich the scheme’s founders and executives.

After a lengthy investigation, six executives of AirBit Club have pleaded guilty to charges of fraud and money laundering. The scheme is alleged to have scammed victims out of $100 million. On March 8, one of the founders, Pablo Renato Rodriguez, admitted to conspiring to commit wire fraud.

The guilty pleas come after a joint investigation by the US Department of Justice, the Internal Revenue Service, and the Federal Bureau of Investigation. The investigation revealed that the scheme had over 72,000 victims worldwide, with the majority of them residing in the United States, South America, and Europe.

The AirBit Club Ponzi scheme is a stark reminder of the dangers of investing in unregulated schemes that promise high returns with little to no risk. The scheme’s founders and executives preyed on the victims’ greed and lack of knowledge about cryptocurrency and blockchain technology.

The guilty pleas of the AirBit Club executives should serve as a warning to other fraudsters who seek to exploit the public’s trust and hard-earned money. The US Department of Justice and its partners will continue to investigate and prosecute those who engage in fraudulent activities, particularly those that target vulnerable populations.

The victims of the AirBit Club Ponzi scheme are encouraged to come forward and seek restitution. The US Department of Justice has set up a website where victims can submit their claims and receive updates on the case. The website can be accessed at

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