Joshua David Nicholas, the head trader at Cryptocurrency trading platform EmpireX, on Thursday, pleaded guilty to one count of committing financial securities fraud. According to the Justice Department, the fraud scheme generated about $100 million from investors. The court document added that the scheme involved cheating investors by promising them the use of AI and trading bots to get guaranteed returns. The guilty plea comes after the Justice Department’s indictment in Jube against Joshua David Nicholas and the company’s founders on charges of Fraud.
