Arizona Man Admits to Defrauding 400 Victims of at Least $7.5 Million in Crypto Mining Scheme

As part of his plea, Sowerby admitted to defrauding approximately 400 victims from 2017 through 2018 in a cryptocurrency investment scheme under the guise of three entities: Now Mining, VIP Mining, and Millennium Technologies. 

Sowerby represented himself as a multi-level marketing promoter and defrauded victims of at least $7.5 million. 

Sowerby was indicted for this scheme alongside a co-defendant, Luis Ortega, against whom the charges are still pending.

PHOENIX, Ariz. – Jeremie Andrew Sowerby, 48, of Fountain Hills, Arizona, pleaded guilty earlier this month to Wire Fraud and admitted to scamming hundreds of victims through a series of investment fraud schemes spanning from 2017 through 2023.

Law enforcement is continuing to…

— US Attorney Arizona (@USAO_AZ) August 18, 2026

Sowerby also admitted to defrauding at least 150 victims through Dumanis Global Technologies from 2018 through 2019. Sowerby convinced victims to buy cryptocurrency mining machines, along with their monthly storage and power costs, but the machines did not actually exist. 

Victims of the Dumanis scheme suffered several million dollars in losses.

Finally, Sowerby admitted to engaging in a scheme called Justice Capital from 2021 through 2023, which was marketed as a hedge fund offered only to high-income earners. Justice Capital allegedly traded using a “bot” algorithm. Through Justice Capital, Sowerby admitted to defrauding an individual out of $207,000.

A conviction for wire fraud carries a maximum penalty of 20 years in prison. 

As part of his plea agreement, Sowerby agreed to pay restitution of up to $30 million to victims of his schemes involving the following companies: Now Mining, VIP Mining, Millennium Technologies, Dunamis Global Technologies, SOFTEK, LLC, Justice Capital, Stealth Capital, FX Primary, Phoenix Ultra, Limitless Trading, Block Mint, Block X (BLKX), Digital Mint, 888 Management, Kannabiz Koin (KK), Kannabiz Monkeez, My Blockchain Life, My Block X, and We Sell Miners. 

Cryptocurrency is a digital currency that operates on a blockchain. There are around 20,000 actively traded cryptocurrencies, but most of them are worthless and their value is volatile. Find the most-commonly traded cryptocurrencies here. 

Law enforcement is continuing to work to identify all of the victims related to these schemes. If you have not already spoken to the FBI related to this matter, and you believe you are a victim of any of the entities listed above, Sowerby, or Ortega, please fill out the questionnaire at this link.

The FBI’s Phoenix Division and IRS-Criminal Investigation are investigating this case. Assistant U.S. Attorney Lindsay Short, District of Arizona, Phoenix, is handling the prosecution.