Victim Petitions Court for Return of Bitcoin Promised in Scam Deal

News | May 28, 2024 By:

On Monday, May 13, 2024, Mark Estrada filed a petition in the District Court of Guam claiming cryptocurrency that was supposed to be part of his investment portfolio with Julien Weymouth. According to court documents, Estrada met Weymouth in June 2020 when looking to purchase a vehicle from the auto dealership where Weymouth worked. They discussed how Weymouth had earned money through Bitcoin trading and was able to retire early.

Intrigued by the prospect of early retirement, Estrada messaged Weymouth on July 23, 2020, asking for more information on how to get started with cryptocurrency investing. Weymouth offered to create an investment portfolio for Estrada, and they agreed to meet in person to discuss the details further. Over the following months, they continued corresponding about Weymouth’s automobile purchases and occasionally brought up the proposed investment opportunity.

By February 2021, Estrada said he was ready to commit funds to the portfolio. On February 18th, he provided $5,000 in cash to Weymouth with the expectation it would be invested in Bitcoin and earn a significant return by the end of the year. On April 9, 2021, Weymouth assured Estrada the investment would grow to $10,000 by May 2021.

However, in the ensuing months, Estrada claimed communication from Weymouth became less frequent and vague about investment updates. When Estrada inquired about accessing some of the purported funds to pay bills, Weymouth said the “Feds had seized his accounts” and he was unable to return the money. It was around this time that news broke of Weymouth’s arrest.

In his petition, Estrada states he is owed the 12.5 Bitcoin listed in Weymouth’s forfeiture documents, which had an estimated value of $766,088.75 at the time of filing. He provided documentation of their interactions through text and voice messages to support his claim.

Please contact BlockTribune for access to a copy of this filing.