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Crypto Conman Gets 8 Years in Slammer for $40M Ponzi Scheme—DOJ Hammers Down
Crypto Conman Gets 8 Years in Slammer for $40M Ponzi Scheme—DOJ Hammers Down
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Another day, another crypto scammer learns the hard way that crime doesn't pay—unless you're a Wall Street banker, of course.
The US Department of Justice just threw the book at a fraudulent crypto operator, sentencing him to 97 months behind bars for running a $40 million Ponzi scheme. That's 8 years of trading orange jumpsuits for Lambo dreams.
How it worked: Old-school fraud meets new-school tech. The scammer promised moon-shot returns, delivered IOUs, and vanished with investor funds—classic move, just with a blockchain veneer.
The takeaway? Crypto's growing up. Regulators are watching, and bad actors are getting prison time instead of exit scams. Maybe next they'll turn their attention to traditional finance's even bigger shell games.
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