Wikimedia Commons
Wikimedia Commons
Two individuals have been arrested after allegedly committing fraud, money laundering and being involved in a cryptocurrency scheme.
Zach Salter and John Michael Caruso, two Valley residents, were arrested after they scammed over 100 people out of more than $7.5 million through their Zima Digital Assets cryptocurrency investment firm, according to Phoenix Business Journal. Defrauded individuals included senior citizens and MLB players, the U.S. Department of Justice complaint states.
The complaint against the two states that Caruso reported a meager income of $22,800 in 2018 despite living in a $9 million mansion with Salter and driving a $200,000 2019 Lamborghini Urus, in addition to renting other luxury vehicles.
Prior to his arrest, Caruso had a criminal history which included "false identification to law enforcement, extortion, fraud, forgery, assisting a criminal syndicate, and money laundering," the Business Journal reported.
Salter reported no income during 2018, but does own five desirable vehicles, including two Mercedes and a 1957 Chevy.
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