The CEO of Mining Capital Coin has been accused of operating a cryptocurrency pyramid scheme

Mining Capital Coin, or MCC, is a cryptocurrency investment and investment platform. Capuci, of Port St. Lucie, Florida, allegedly misled investors by selling “mining packages,” promising significant returns from mining new cryptocurrencies in what MCC called the international network of crypto-mining machines, According to the Ministry of Justice press release.

According to the US Securities and Exchange Commission complaint Capuci filed last month, having sold mining packages to more than 65,000 investors since at least January 2018. The group promised 1% daily returns for up to a year, according to a Securities and Exchange Commission press release.

CNN Business has reached out to Capuci for comment.

Capuci has also announced MCC’s cryptocurrency, “Capital Coin,” according to a Department of Justice press release. The statement alleges another fraudulent MCC investment vehicle, “Trading Bots,” which Capuci claimed operates “with an extremely high frequency, being able to do thousands of trades per second.” Capuci claimed that the trading bots will provide daily returns, according to a DOJ release.

Capuci also allegedly ran a pyramid scheme, according to the Department of Justice, that recruited promoters to sell mining packages and promised gifts ranging from Apple Watches to Capuci’s personal Ferrari, according to the press release.

The Department of Justice charged Capucci with conspiracy to commit Internet fraud, conspiracy to commit securities fraud, and conspiracy to commit international money laundering. He could face up to 45 years in prison if convicted on all charges. The FBI Miami field office and Homeland Security investigations are investigating the case.