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Cryptocurrency broker Infinity Option appears to be engaged in fraud against California consumers

Dec 29, 2022

The California Department of Financial Protection and Innovation (DFPI) has received a complaint from at least one California resident regarding a crypto investment.

The victim met “Mike Vestil” on Instagram. They talked and at some point Mike told her she could make money investing. He introduced her to “Jason Brandon”, who offered to show her how to trade Bitcoin to make money. Jason instructed her to start a plan with a minimum of $500-$1000 for 5-7 days trade. The victim transferred Bitcoin into Jason’s wallet at After that, Jason asked for more money and said if the victim didn’t pay she wouldn’t be able to get her  money back. The victim lost $18,000. The company operated a website at

This appears to be what is commonly called an “Advance Fee scheme,” which can take many forms, as discussed here: This also appears to be what’s known as a Romance Scam, which is described here:

The DFPI urges consumers to exercise extreme caution before responding to any solicitation offering investment or financial services.  To check whether an investment or financial service provider is licensed in California, consumers may contact the Department for questions or inquiries at or call toll-free at (866) 275-2677.  If a consumer believes a person or company has violated state law or acted improperly regarding a consumer financial product or service, they may file a formal complaint with the DFPI at

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Last updated: Dec 29, 2022 @ 2:13 pm