Former NBA player allegedly swindles Ghanaian company $825,000 in Bitcoin scam

A former NBA player has allegedly swindled a Ghanaian company to the tune of $825,000 under the guise of trading in Bitcoin new crypto currency auto-trading programme.

Isaac Edward Austin of IEA and Tudor Trust, said to have claimed to be a trustee for BTC trade transactions, is purported to have lured the Ghanaian company into signing the said contract on July 3, 2019, according to copies of documents available to mynewsgh.com.

An amount was subsequently transferred into his account at a strike price of $11,000 per BTC, amounting to $825,000. But till date, he has refused to make payment at the close of trading as was agreed.

Per the contractual agreement, he was expected to have paid back the amount and accrued benefits at the close of trading but failed to do so with flimsy excuses.

One of his victims who narrated his ordeal to this portal with documents of revocation notice said: “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 couldn’t 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 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% to deliver and conclude the transaction. He is a fraudsters of the highest order. Stay away from him. We have all the proof – contracts, letters and messages”

A copy of a demand notice intercepted by MyNewsGh.com reads “Attention – Mr. Isaac Edward Austin This letter is being sent to you regarding outstanding funds of $825,000 (eight hundred twenty-five thousand dollars) owed.

"On July 3rd, 2019, you as a Trustee of IEA and Tudor Trust took a BTC Investment from us. These are funds that are due to be paid on that account, specifically in the amount of 75BTC at an agreed strike price of $11,000 per BTC totaling $825,000.

"We expected this amount to be paid back in full by July 3rd, 2019 as per contract. As it has still not yet been paid back, we expect you to take prompt action to satisfy your financial obligations to us immediately and without any further delay. If payment is not made within the next 48 hours, we reserve the right to take any legal action necessary to recover the full amount without further notice to you. Please be advised this letter may be used as evidence regarding your failure to pay.

"Your prompt and immediate attention to the matter is required.”

All attempts by this portal to reach Mr Isaac Edward Austin for his reaction proved futile as he for weeks failed to respond to both text and whatsapp messages as well as respond to emails.