Former California Lawyer Sentenced For Multi-Million Dollar Crypto Ponzi Scheme

According to PANews, an 86-year-old former California lawyer has been sentenced to five years of probation after admitting to orchestrating a multi-million dollar cryptocurrency Ponzi scheme. The individual has also been ordered to pay nearly $14 million in restitution. Due to poor health, the suspect is currently receiving end-of-life care at a senior facility in Las Vegas. Unless he leaves the facility, he will serve his probation period there. If he does leave, he will be required to wear a monitoring device. From December 2017 to around June 2022, the suspect and two accomplices lured victims into investing in a fraudulent crypto trading bot scheme by promising high returns with no risk.