Ex-Rugby Player Sentenced For $900K Crypto Mining Ponzi Scheme

Shane Donovan Moore, a former semi-professional rugby player, has been sentenced to 30 months in federal prison for orchestrating a fraudulent cryptocurrency mining scheme that defrauded over 40 investors of $900,000. Operating under Quantum Donovan LLC from January 2021 to October 2022, Moore lured victims with promises of 1% daily returns from non-existent mining rigs.

Instead of deploying capital for mining equipment, Moore diverted funds to finance luxury apartments, designer goods, and electronics. The scheme unraveled as he resorted to Ponzi-style payouts to earlier investors. U.S. District Judge Tana Lin emphasized the psychological toll on victims during sentencing.

"Moore exploited cryptocurrency's novelty to perpetrate a classic fraud," stated Acting U.S. Attorney Teal Luthy Miller. The case underscores persistent risks in digital asset investments despite blockchain's transparency promises.