Betr Coin CEO facing charges for cryptocurrency fraud

Since the introduction of Bitcoin more than five years ago, the worldwide cryptocurrency market has grown at a breakneck pace. At this moment, investors, gamblers, and futurists can take their pick from dozens digital currencies and tokens. Unfortunately, not all of these out-of-the-box coinages are on the up and up. This is a lesson that anyone who invested in Betr, a digital token backed by gaming operator BetterBetting.com.
According to a very detailed report published this week on CalvinAyre.com, Betr’s prospects of changing the world of digital payments are rapidly dissolving in a flurry of criminal allegations, including embezzlement and fraud.
At the center of these allegations is BetterBetting CEO Adriaan Brink. Brink introduced Betr to investors as a revolutionary new method for handling transactions between private parties using Blockchain technology. Those investors took the bait to the tune of slightly over $5 million, but the cryptocurrency dream Brink was selling was troubled from the start.
Many investors questioned the choice of gambling industry veteran Ian Sherrington to run the operation. Sherrington solidified those doubts with some poor behavior at the Betr launch party, which he admits to not recalling, and things have only gone downhill from there. In short, virtually none of Brink’s initial promises regarding the digital tokens, which are actually in use, have been fulfilled and investors have not seen any return on their investments.
Those investors are quite unlikely to see any return, ever, as Estonian financial investigators and border guards are currently investigating the company for fraud. This comes as allegations swirl regarding the use of investor funds for personal reasons.
As of this writing, Betr coinage is trading at 95 percent below its initial offering.