Retired NBA player, Isaac Edward Austin, has allegedly scammed a Ghanaian company. It is said that he scammed the company out of $825,000 in Bitcoin (BTC). The money in question was reportedly acquired for the sake of an investment in a Bitcoin automated trading program. It was this investment promise that prompted the issuance of the money.
The Ghanaian Investment Scam: What actually happened?
Passing through the Isaac Edward Austin (IEA) and Tudor Trust, Austin reportedly masquerade as a goodwill trustee with the ability to assist a Ghanaian company in making profit through a Bitcoin investment. Both parties signed a contract on July 3, 2019. This contract is part of the documents that have been shared on mynewsgh.com as an indication that the scam actually took place. This Ghanaian company in question sent to a bitcoin investment at a strike price of $11,000 per Bitcoin (BTC), totaling to $825,000 to Austin thereby expecting to receive the original investment plus profits. Unfortunately, Austin failed to provide the original investment plus profit at the close of trading as per the agreement signed on July 3, 2019.
In sorrowful words, a victim of Austin’s scam shared his experience as follows: “He will take your BTC and you will never get your investment back or your returns. On the day of payment, he will tell you story after story filled with lies of issues why the BTC could not be delivered on the day of payment. From him having a heart attack, to the coin being sent to the wrong wallet, to him being in a queue at the bank, to him waiting for the trade to conclude, to the funds being held by the bank. Week after week after week of unresolved issues even when he has confirmed the day before that all is set 1000 percent to deliver and conclude the transaction. He is a fraudster of the highest order. Stay away from him. We have all the proof – contracts, letters, and messages.”
Apart from the contract shared by mynewsgh.com, another document was shared. This document was more of a notification letter that was sent to Austin due to his failure in respecting terms of the contract. Note that the Ghanaian company expected payment with profit on the same day that they signed the contract with Austin. The company was expecting 75 BTC going for a strike price of $11,000. In this notification letter, the Ghanaian company gave Austin 48hrs to pay back their money with profit – failure to which they threatened taking legal actions.
Could it be that the scammer is an imposter?
In line with the documents shared on Ghana Web, the bitcoin scammer’s date of birth and height are similar to that of the retired NBA player, Isaac Edward Austin. This leaves us wondering on whether this is the case of a retired basketball player becoming a scammer or whether someone is impersonating him? Whatever the case, this is a call for all Bitcoin investors to take further precautions in managing their digital assets.