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BTCC / BTCC Square / Global Cryptocurrency /
Long Island Man Sentenced to 18 Years for $12M Crypto Fraud Scheme

Long Island Man Sentenced to 18 Years for $12M Crypto Fraud Scheme

Author:
Global Cryptocurrency
Published:
2025-04-24 11:54:02
13
2

Eugene William Austin Jr., a Long Island resident, has been sentenced to 18 years in prison for orchestrating a $12 million cryptocurrency fraud. Operating under the alias "Hugh Austin," he was convicted in September 2024 on charges of wire fraud conspiracy, money laundering conspiracy, and interstate transportation of stolen property.

The scheme involved Austin and his son Brandon posing as brokers for bulk cryptocurrency sales to defraud investors. The case underscores the persistent risks of fraud in the digital asset space, even as institutional adoption grows.

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