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Father-Son Crypto Scam Duo Jailed After Bleeding Investors of $12M
Father-Son Crypto Scam Duo Jailed After Bleeding Investors of $12M
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Hugh Austin, a Long Island-based fraudster, has been sentenced to 18 years in prison for orchestrating a $12 million cryptocurrency scam alongside his son, Brandon. The duo posed as crypto brokers, promising high returns on short-term digital asset investments while defrauding over two dozen victims.
The U.S. Attorney’s Office revealed the scheme involved laundering proceeds through fraudulent crypto transactions. No specific cryptocurrencies or exchanges were named in the indictment, though the case underscores persistent risks in underregulated sectors of digital asset markets.
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