Fake UN Affiliate ICO Mastermind Charged with Fraud


United States prosecutors on Tuesday brought charges against the president of a United Nations affiliate for defrauding investors with the sale of IGOBIT digital tokens.

Per the official announcement, Asa Saint Claire, a 47-year-old New York resident, attracted investors to invest in “World Sports Alliance” with the purchase of IGOBIT tokens. The funds were raised in the forms of loans to the non-existent organization.

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The prosecutors alleged that Saint Claire was involved in the scheme from 2017 until last September and diverted all raised funds to other entities controlled by him and members of his family. He also used the money to pay his personal expenses, including dinners, airline tickets, and online shopping.

Commenting on the case, Geoffrey S. Berman, the US attorney for the Southern District of New York, said: “As alleged, Asa Saint Clair used World Sports Alliance, a sham affiliate of the United Nations, as a vehicle to defraud lenders. Saint Clair allegedly defrauded investors in IGOBIT, a digital currency he claimed WSA was developing, but which turned out to be the fraudulent bait with which to lure victim investors. What’s real is the felony charge Saint Clair now faces.”

Innocent until proven guilty

The prosecutors charged Saint Claire with one count of wire fraud, and if convicted, he is looking at a maximum jail term of 20 years.

“Saint Claire allegedly touted his company as promoting the values of sports and peace for a better world, yet defrauded all those who invested in his sham company. As alleged, Saint Claire used the money he earned through deceit to fund a lavish lifestyle for him and his family,” Peter C. Fitzhugh, the special agent-in-charge of the Homeland Security Investigations, added.

“Through the HSI New York El Dorado Task Force and its strong partnerships, Saint Claire will face time for his actions, and it won’t be in the luxury or comfort he has grown accustomed to.”

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