Federal prosecutors have charged Minerco Inc, Bobby Shumake Japhia, and Julius Makiri Jenge for their roles in an alleged pump-and-dump scheme that defrauded investors out of approximately $8 million. The scheme involved generating millions of dollars in ill-gotten proceeds from sales of Minerco stock. Additionally, a Michigan man, associated with a magic mushroom business, has been accused of defrauding investors by spreading fake news and destroying evidence when regulators began investigating. The head of a magic mushroom church, known as Shaman Shu, has also been implicated in the multimillion-dollar fraud scheme.