President of World Sports Alliance faces prison term for crypto scheme
The United States Attorney for the Southern District of New York, announced the conviction today of Asa Saint Clair, a/k/a “Asa Williams,” a/k/a “Asa Sinclair,” following a one-week trial before the Honorable P. Kevin Castel.
Saint Clair devised an investment scheme in which he defrauded more than 60 victims into providing loans to his organization, the World Sports Alliance, tied to a purported digital coin offering called IGObit. He falsely represented to investors that the World Sports Alliance was a close affiliate of the United Nations and that they would receive guaranteed returns on their investment, but instead diverted the investors’ funds for his personal expenses and benefit.
The defendant was charged and convicted in one count with committing wire fraud, in violation of Title 18, United States Code, Section 1343, from in or around November 2017, through in or around September 2019. He solicited investors for the launch of IGObit through promised investment returns, representations that the World Sports Alliance, a purported intergovernmental organization, was a close affiliate and partner with the United Nations, and representations about the World Sport Alliance’s development projects around the world.
World Sports Alliance did not in fact have any relationship with the United Nations and did not, and had not, participated in any international development projects.
Saint Clair was convicted of one count of wire fraud, which carries a maximum sentence of 20 years in prison. Sentencing before Judge Castel is scheduled for July 19, 2022.