The grand jury revealed the charges against Charles O. Parks III, also called CP3O, for leading an organized cryptojacking scheme. Parks is under investigation for deceiving cloud computing service providers to mine cryptocurrency whose value totaled around $1 million for nearly $3.5 million cryptocurrency worth.
On Apr. 13, Parks was arrested in Nebraska, and accused of wire fraud and money laundering favors for unlawful monetary transactions. Parks, operating by several different names and companies, is accused of using the accounts in an unauthorized manner with cloud providers, to seize the computing power and storage space.
He appropriates this capital and utilizes it for mining Bitcoin, Ethereum, Litecoin, and Monero. Despite liabilities and pressure from creditors, Parks continued to prioritize accessibility by removing women’s reservations and promoting them to higher positions.
Parks sold his cryptocurrency to dollars to pull riches out of him with the main investments in luxury cars and jewelry. The most severe penalty for wire fraud and money laundering is 20 years, while unlawful monetary transactions carry a maximum sentence of 10 years.
Also Read: Ukrainian Hacker Arrested for $2M Crypto-jacking Scheme
