The Justice Department released an indictment on May 5 showing that Mining Capital Coin CEO and founder Luiz Capuci Jr. was charged with orchestrating a $62 million investment fraud. Capuci allegedly misled investors about MCC’s plan, which he said would use investors’ funds to mine new cryptocurrencies with guaranteed returns. Instead, Capuci deposited funds into his own crypto wallet and used them to fund his own Lamborghini lifestyle, real estate and yachts. Capuci also allegedly ran a pyramid scheme of promoters, promising them lavish gifts including iPads and luxury cars.