A cryptocurrency scam has reportedly duped investors through promises of a worldwide sports group.

The Australian Victorian and Western Australian Inter-Gentleman’s Golf Club, or VCIGC, contacted 7 News after Australia “CapitalWatch” reported the scam.

In a chat with Perth-based reporter Emma Parry-Kavanagh, VCIGC CEO Tim Berry told 7 News that the group has no connection to either the inter-gentleman’s golf tourney or those raking in the cash.

“We don’t have any association with them at all,” Berry told 7 News. “No matter what you have in your wallet – gold, cryptocurrency – we don’t invest money.”

Berry told 7 News that people who invested in VCIGC are getting back their money.

The VCIGC “investors” apparently lost over $1 million and have already received some of the millions they invested.

“Basically, we found out that VCIGC and its directors were [the ones] involved in this major investment fraud that was running, and they’ve been paid back,” Berry told 7 News.

This story is reminiscent of this recent Bitcoin scam news.

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