Two North Macedonian nationals have been indicted in the Southern District of New York for allegedly running a large-scale online fraud operation built around fake collectible products called “Trump Bucks.” The items were marketed to US consumers as being affiliated with former President Donald Trump, with promises they could eventually be redeemed for substantial monetary payouts.
They could not. The products were worthless.
The scheme and the charges
Stamenko Stankovic and Stojan Stankovic face wire fraud charges for what prosecutors describe as a deliberate campaign to deceive buyers into thinking they were purchasing legitimate financial instruments. The defendants allegedly marketed the products as collectibles endorsed by Trump himself, leading victims to believe they held items with real, redeemable value.
According to the charges, the operation also falsely suggested endorsement by major banks, adding another layer of fabricated legitimacy to the scheme.
The operation allegedly extracted hundreds of thousands of dollars from victims across the United States.
Despite the name “Trump Bucks” sounding like it could be a memecoin or digital token, there is no evidence these were on-chain products of any kind. These were physical, off-chain collectibles, items with no blockchain component, no smart contract, no decentralized anything.
Who got hurt
Prosecutors indicate that the scheme primarily targeted elderly individuals who were strong supporters of Trump. The defendants allegedly exploited that trust by wrapping their products in political loyalty, creating a dynamic where questioning the legitimacy of Trump Bucks might have felt, to victims, like questioning the president himself.
The Department of Justice’s pursuit of wire fraud charges here carries significant weight. Wire fraud convictions can result in up to 20 years in federal prison per count.
A broader pattern of political branding scams
Official Trump-affiliated ventures have included digital trading cards and, more recently, the $TRUMP memecoin that launched in January 2025. The existence of real, Trump-associated digital products makes it even easier for fraudsters to muddy the waters, making it harder for the average consumer to distinguish that activity from a scam product claiming the same affiliation.
The Stankovic defendants allegedly operated in this environment without being sophisticated technologists or financial engineers, relying instead on a political brand that millions of Americans already trusted.
What this means for investors
The DOJ’s decision to bring charges against foreign nationals operating from North Macedonia signals a willingness to pursue cross-border fraud cases tied to US victims. If prosecutors can reach North Macedonia for physical collectible fraud, the bar for pursuing overseas crypto scammers may be lower than some assume.
