A Texas couple has each been sentenced to 40 years in prison for operating an illegal pyramid scheme during the COVID-19 pandemic, defrauding over 10,000 Americans of $30 million.

According to a Department of Justice report released on the 10th (local time), LaShonda and Marlon Moore, residents of Frisco, Texas, co-founded a chain-referral pyramid scheme company called "Blessings in No Time (BINT)." Between June 2020 and June 2021, during pandemic lockdowns, they recruited participants nationwide through weekly live streaming broadcasts and then demanded investment funds from them.

Assistant Attorney General Andrew Tysen Duva stated, "This fraudulent scheme exploited people's hard-earned money at a time when they needed it most," adding, "Opportunistic scammers like the Moores deserve to be in prison."

The Moores promised participants an 800% return on a $1,400 investment and guaranteed refunds if investors were not satisfied. The couple promoted the company as a way for people to help their communities by paying at least $1,400 in so-called "blessings" to already enrolled participants, falsely promising that new participants' payments would return eightfold within weeks.

BINT operated based on a game board where participants were placed in stages of different values. Specifically, it consisted of 8 "Fire" positions, 4 "Air" positions, 2 "Earth" positions, and 1 "Water" position. When 8 new participants were recruited until all 8 "Fire" positions on the game board were filled, each person in a "Fire" position was instructed to pay at least $1,400 to the person in the "Water" position, who would then receive eight payments totaling over $11,000.

After the participants in the highest stage, the "Water" position, received their payments, individuals in lower stages would move up one level on the game board and had to recruit new participants for the entry-level "Fire" positions to continue the scheme.

The Moores profited by placing themselves in positions on the game board where they could receive the majority of the final payments.

Christopher Altemus, Special Agent in Charge of the IRS Criminal Investigation Dallas Field Office, stated that the scheme specifically targeted the African American community, exploiting cultural trust and community bonds.

Christina Foley, Special Agent in Charge of the U.S. Secret Service Dallas Field Office, said through the Department of Justice report that the Moores exploited trust and hope during a national crisis, causing severe harm to thousands of victims. Eric Shen, Senior Investigator with the U.S. Postal Inspection Service (USPIS) Criminal Investigations Group, pointed out that this "greed-based deceptive investment" promising "unbelievably good" returns caused widespread damage.

The U.S. Postal Inspection Service, the Secret Service, and the IRS investigated the case, and Department of Justice Trial Attorneys Theodore Kneller and Adam Stempel, along with Assistant U.S. Attorney Abe McGlothin Jr., handled the prosecution.

By Sung Ku Hong, Chief Reporter for NNP / Special Correspondent NNP info@newsandpost.com