Vijay Sharma, Tomas Jager’s (aka Kongbtc) business partner, was found guilty of “Fraud – Dishonestly obtains property from another”, on the 14th October 2021.
Vijay Sharma was fined $500.00 and ordered to pay $411.55 to one of the defendants.
Conviction was not recorded.
This was the first of a number of cases that have been opened in relation to the ponzi scheme and fraud that was committed by Tomas Jager and Vijay Sharma.
The quick story is Tomas Jager and Vijay Sharma ran a number of investment pools.
They were using new money to pay profits in the older pools. They presented a number of fraudulent reports that contained falsified trades and results. You can see the falsified reports here.
Tomas Jager then released a public statement to investors in which he claimed the investment team lost it all trading. Vijay then released his statement. You can see their public statements here.
An audit team was then put together and an audit took place which you can read here. After finding a number of irregularities, the audit team requested an interview with TJ and VJ. It was then that Tomas Jager came clean with what had happened.