U.S. man confesses to $2 million mining scam

Chet Stojanovic posed as a broker of mining equipment and hosting and then embezzled the money, customers paid for his “services”.

The man managed to deceive more than ten victims and swindle $2 million. The criminal convinced that with his help they could buy mining equipment. After the buyers agreed, he continued to charge them for hosting at a farm allegedly located in Canada. With the money his customers paid him, the fraudster bought luxury goods and flew on a private jet. He also paid off his $80,000 credit card debt.

To prevent victims from suspecting fraud, Stojanovic bought 75 miners on marketplaces and showed them to clients if they became suspicious. He even took one of the most distrustful on a private flight supposedly to fly to a data center but dropped him off in Buffalo, telling the customer not to expect any compensation.

In 2019, Chet Stojanovic disappeared for two months, then reappeared and told customers that the owner of the facility in Canada had disappeared, taking his equipment with him. As a result, the six victims sued him. However, even under the threat of court proceedings, the criminal could not stop. He managed to convince several brokers to buy 127 miners worth $200,000 with his help. In the end, the buyers received only three devices. When trying to get the money back, Stojanovic wrote fictitious checks and gave only $61,000. He spent the sum he had pocketed on online casinos, Apple products, and restaurants.