27 entries tagged “fraud”.
Two 2017 ICOs run by Brooklyn's Maksim Zaslavskiy, marketed as tokens backed by real estate and diamonds that did not exist. The case produced the first U.S. criminal conviction for an ICO fraud; Zaslavskiy was sentenced to 18 months in 2019.
A cryptocurrency marketed by Rowland Marcus Andrade's NAC Foundation as 'anti-money-laundering' Bitcoin. A U.S. jury convicted Andrade of wire fraud and money laundering in 2025; the DOJ said he defrauded investors of about $10M with false claims, including a fabricated Panama Canal deal.
A 2017 ICO by Dominic Lacroix that promised returns of more than 1,300% in under a month. It was the first case brought by the SEC's new Cyber Unit; the SEC obtained an emergency freeze and a multimillion-dollar judgment.
A Meta 1 Coin promoter (and Robert Dunlap's partner) charged by the SEC in 2020 over the fraudulent, falsely gold/art-backed coin offering.
A former Washington state senator who helped market the Meta 1 Coin, telling investors it was secured by $2B in gold under audit. The SEC charged him in 2020 and a court jailed him for civil contempt for defying its orders.
Former head of engineering at FTX, who wrote code that allowed Alameda Research to draw on customer funds. He pleaded guilty to five charges, cooperated against Sam Bankman-Fried, and was sentenced in 2024 to time served.
Co-founder and CTO of FTX, who wrote code that secretly let Alameda Research draw on FTX customer funds. He pleaded guilty, cooperated against Sam Bankman-Fried, and was sentenced in 2024 to time served.
An Orlando, Florida investment firm (formerly the Gen-Z Venture Firm) that U.S. prosecutors allege operated as a ~$328M crypto Ponzi scheme from 2023 to 2026, promising guaranteed 3–8% monthly returns from cryptocurrency 'liquidity pools.' CEO Christopher Delgado was arrested in February 2026 on wire-fraud and money-laundering charges.
A purported diamond-backed cryptocurrency run by Jose Angel Aman as the latest stage of a multi-year diamond-investment Ponzi. The SEC said the linked schemes raised about $30M from 300+ investors; Aman was sentenced in 2020 to six years and ordered to pay ~$23M in restitution.
A Dallas-based operation that sold the Bitqy and BitqyM tokens. The SEC said founders Bruce Bise and Samuel Mendez defrauded over 13,000 investors in unregistered offerings; the DOJ said the venture raised ~$24M. Both pleaded guilty to tax evasion and received 50-month prison terms.
A 2018 ICO by Titanium Blockchain (TBIS), led by Michael Stollery, that raised ~$21M for its 'BAR' token using fabricated testimonials and bogus partnerships (e.g. the Federal Reserve, PayPal, Boeing). The SEC froze it; Stollery was sentenced to 51 months.
A 2017 Texas ICO that marketed itself as the world's 'first decentralized bank' on the AriseCoin token, with false claims of FDIC insurance and a Visa partnership and a bogus '$600M raised'. The SEC halted it; the real fraud was ~$4M. CEO Jared Rice got 5 years.
A fraudulent virtual currency (MBC) marketed 2014–2017 as gold-backed and tradeable. Founder Randall Crater was convicted of wire fraud in 2022 and sentenced to over eight years; courts ordered ~$7.6M in restitution/forfeiture.
A 2017 ICO that sold the CTR token and, per the SEC, raised over $32M by touting nonexistent partnerships with Visa, Mastercard, and Bancorp. Co-founder Sohrab Sharma was sentenced to 8 years.
Co-CEO of FTX's Bahamian subsidiary (FTX Digital Markets) and a top lieutenant of Sam Bankman-Fried. He pleaded guilty in 2023 to campaign-finance and unlicensed-money-transmitting conspiracies and was sentenced to 7.5 years in prison.
A lead operator of the Meta 1 Coin fraud, which falsely claimed gold/art backing and risk-free returns. Jailed for civil contempt during the SEC case, he was later convicted of mail fraud and sentenced in 2026 to 23 years in prison.
Former CEO of the collapsed Singapore crypto lender Hodlnaut. In May 2026 Singapore charged him with six counts of fraud by false representation, alleging he directed false statements that the firm had no TerraUSD exposure. He disputes the charges.
Former CEO of Alameda Research and the prosecution's star witness against Sam Bankman-Fried. She pleaded guilty to seven counts and was sentenced in September 2024 to two years in prison.
Close associate of Guo Wengui (known as 'Yvette'). For her role in the >$1B fraud she was sentenced to 120 months in prison and ordered to forfeit $1.4 billion.
Founder and CEO of NAC Foundation, the company behind 'AML Bitcoin.' A jury convicted him of wire fraud and money laundering in 2025 over a ~$10M scheme; he was sentenced to 84 months (seven years) in prison.
Founder of My Big Coin, a virtual currency he falsely marketed as gold-backed and partnered with MasterCard. A jury convicted him in 2022 of wire fraud and related counts; he was sentenced in 2023 to 100 months in prison and ~$7.6M in restitution and forfeiture.
A crypto lending platform that froze withdrawals and filed for bankruptcy in 2022. Initial bankruptcy filings cited ~$4.7 billion owed to creditors. Founder Alex Mashinsky pleaded guilty to fraud and was sentenced to 12 years.
A major cryptocurrency exchange that collapsed into bankruptcy in November 2022. Prosecutors described an ~$8 billion shortfall in customer funds; founder Sam Bankman-Fried was convicted on seven counts and sentenced to 25 years.
A crypto exchange and 'Himalaya Coin/Dollar' project that was one strand of a >$1B fraud the U.S. DOJ pinned on exiled Chinese businessman Guo Wengui (Miles Guo). A jury convicted Guo in July 2024 on nine counts; prosecutors said ~$262M was raised via the Himalaya Exchange alone.
Exiled Chinese businessman (also 'Miles Guo'/'Ho Wan Kwok') convicted in July 2024 of orchestrating a >$1B fraud against his online followers, including ~$262M via the Himalaya Exchange crypto project. Sentencing has been repeatedly adjourned.
Founder and CEO of the crypto lending platform Celsius Network. Pleaded guilty to commodities and securities fraud and was sentenced in May 2025 to 12 years in prison.
Founder and CEO of the cryptocurrency exchange FTX and trading firm Alameda Research. Convicted in November 2023 on seven fraud and conspiracy counts and sentenced to 25 years in prison.
