Ryan Mark Ginster, 34, of Corona, California, is behind bars on federal charges tied to a brazen cryptocurrency fraud scheme that swindled investors out of more than $5 million. Arrested in Los Angeles, Ginster faces one count of wire fraud and six counts of money laundering, according to a criminal complaint unsealed in San Francisco. The scheme ran from February 2018 to February 2021, exploiting the irreversible nature of crypto transactions to vanish with victims’ funds.
Ginster allegedly operated five high-yield investment websites, including Socialprofimatic.com, MyMicroProfits.com, Automaticbitcome.com, eProfithub.io, and YourNetProfits.com. Each promised absurd daily returns—up to 8% per day—with no risk. Investors were required to pay exclusively in cryptocurrency, locking them out of chargebacks or reversals. Socialprofimatic.com alone raked in $844,667 before shutting down without warning after just 38 days.
The complaint’s affidavit details how Ginster falsely claimed investor funds would finance social media marketing campaigns. Instead, the money was funneled directly to him. The sites mimicked legitimacy with slick interfaces and promises of instant withdrawals—none of which materialized once cash flowed in. Within weeks of launch, each platform went dark, cutting off communication and leaving investors stranded.
The total cryptocurrency haul across all five sites exceeded $5 million at the time of receipt. Ginster used the illicit proceeds for personal gain, violating federal laws designed to protect financial integrity. The IRS-Criminal Investigation Washington D.C. Field Office traced blockchain transactions and digital footprints to build the case, highlighting the growing role of cyber forensics in prosecuting digital fraud.
Ginster is charged with one count of wire fraud under Title 18, U.S.C. § 1343, carrying a maximum 20-year prison sentence, and six counts of money laundering under Title 18, U.S.C. § 1956(a)(1)(B)(i), each punishable by up to 10 years. Both charges allow for substantial fines and mandatory restitution. A federal judge will determine sentencing based on U.S. Sentencing Guidelines and 18 USC § 3553.
Charges are allegations; Ginster is presumed innocent until proven guilty. The prosecution is led by the Corporate and Securities Fraud Section of the U.S. Attorney’s Office for the Northern District of California. The SEC also filed a parallel civil enforcement action in the Central District of California. Victims are urged to contact IRS-Criminal Investigation at emsvictim@ci.irs.gov. The criminal complaint is available via PACER.
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Key Facts
- State: California
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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