Prosecutors alleged that the nonexistent president hooked investors in to buy into the “World Sports Alliance” They claim that he defrauded investors after utilising the IGOBIT digital token. Saint Clair is facing up to 20 years in prison if judges rule him guilty With help from the Southern District of New York, prosecutors alleged that the nonexistent president hooked investors in to buy into the “World Sports Alliance”. He did this using his IGOBIT digital currency and made false promises to investors equity in the organisation from 2017 to September this year.  Wire fraud So Prosecutors in the United States have charged Asa Saint Clair, the president of a nonexistent United Nations affiliate, this week over fraud. They claim that he defrauded investors after utilising the IGOBIT digital token. IGOBIT was never built though according to the documents, and the project’s investors did not receive the tokens they were promised by Saint Clair. Manhattan US Attorney Geoffrey S. Berman said in a statement: “As alleged, Asa Saint Clair used World Sports Alliance, a sham affiliate of the United Nations, as a vehicle to defraud lenders. Saint Clair allegedly defrauded investors in IGOBIT, a digital currency he claimed WSA was developing, but which turned out to be the fraudulent bait with which to lure victim investors.” Saint Clair was, in fact, said to have used all the money taken from investors for his own personal use, as most Ponzi schemes do... Peter Fitzhugh, Special Agent-in-Charge said: “Saint Clair allegedly touted his company as promoting the values of sports and peace for a better world, yet defrauded all those who invested in his sham company,” “As alleged, Saint Clair used the money he earned through deceit to fund a lavish lifestyle for him and his family.” It will be interesting to see how this situation plays out but what we do know is that Saint Clair is facing up to 20 years in prison if judges rule him guilty of wire fraud. For more news on this and other crypto updates, keep it with CryptoDaily!