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

Long Island Man Sentenced to 18 Years in $12 Million Crypto Fraud Scheme

Author:
Global Cryptocurrency
Published:
2025-04-25 03:07:02
7
2

Eugene William Austin Jr., a 62-year-old Long Island resident, has been sentenced to 18 years in prison for orchestrating a $12 million cryptocurrency scam. Austin and his son Brandon posed as crypto brokers, luring at least 24 victims with false promises of high returns.

The court ordered Austin to repay $12.66 million in restitution, forfeit over $6 million in illicit gains, and surrender a luxury Jaguar SUV used in the scheme. Operating under the alias Hugh Austin, the defendant misappropriated investor funds, causing significant financial harm.

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