By CCN Markets: A scammer that called himself the “coyote of Wall Street” has admitted to telling clients he would invest their money in cryptocurrency only to keep it for himself. Patrick McDonnell, a 46-year-old from Staten Island in New York, pleaded guilty to one count of wire fraud on Friday. He explained to U.S. District Judge Nicholas Garaufis, in comments reported by Bloomberg, that he spent the money on himself: I perpetrated a fraud. I claimed to invest it in virtual currency and spent it on personal expenses. How the “Coyote of Wall Street” Worked McDonnell, also known as
Crypto-Stealing SIM Swapper Pleads Guilty, Gets 10 Years in Prison
Joel Ortiz, a college student who allegedly stole cryptocurrency worth over $ 5 million, has pleaded guilty and accepted a 10-year prison sentence. Ortiz was arrested last year and accused of hijacking the phone numbers of around 40 people. He is now the first person to be sentenced for the crime, commonly known as SIM swapping.
Also read: Plaintiff in AT&T SIM-Swapping Case Sues ‘Bitcoin Bandit’ for $ 81M
First Case of SIM Swapping Conviction
The 20-year-old from Boston was detained at Los Angeles International Airport in July 2018 while trying to leave for Europe. He is one of several hackers arrested for SIM swapping last year including Xzavyer Narvaez, Nicholas Truglia and Joseph Harris.
In Landmark U.S. Case, Mastermind Behind Two Fraudulent ICOs Pleads Guilty
This is the ICO regulators warned you about. Maksim Zaslavskiy, who is the mastermind behind two ICOs for tokenized real estate and diamonds, has pled guilty to fraud in a federal district court in Brooklyn, N.Y. As the first case of ICO fraud in the U.S., this one sets a precedent, with a judge in September
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Silk Road Operator Libertas Pleads Guilty, Seeks Plea Deal
Gary Davis, an Irishman who was extradited to the United States in July to face charges for his suspected involvement in the operations of Silk Road, has reportedly begun discusssing a plea bargain with prosecutors. Davis, who was known as ‘Libertas’ on Silk Road, has pled guilty to conspiring to distribute narcotics – a charge resulting from roles as a Silk Road administrator.
Also Read: Markets Update: Tranquil Markets Presage a Storm Brewing
Not Guilty: Accused Silk Road Lieutenant Gary Davis Pleads Innocence
Gary Davis, charged with assisting Ross Ulbricht in running a drug trade worth more than $ 200 million on the Silk Road drug marketplace, has pleaded not guilty in a New York court to charges of conspiracy to distribute narcotics, computer hacking, and money laundering, according to The Times. Davis, who was extradited from Ireland stand trial in
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Thailand: Stockbroker Indicted in $24 Million Bitcoin Fraud Pleads Innocence as Victim
Prasit Srisuwan, a well known Thai stock investor who has been roped into the ongoing probe over a $ 24 million bitcoin fraud case has denied being a party to the fraud. The Bangkok Post reports that Srisuwan told a press conference that he is in fact a victim of a fraudulent transaction which left a
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The Daily: Exchange Operator Pleads Guilty, Scammer Fined Over $1.9 Million
In today’s edition of Bitcoin in Brief we cover a number of stories related to crime from around the cryptosphere: an exchange operator pleads guilty to securities fraud, a scammer is fined over $ 1.9 million for bitcoin and binary options fraud, police get a crypto course and a new type of ransomware attack is discovered.
Also Read: EU Study: International Nature of Cryptocurrency Markets Is a Challenge for Regulators
Founder of Two Closed Cryptocurrency Services Pleads Guilty to Federal Charges
The operator of two now-defunct cryptocurrency services – BitFunder and WeExchange – has pleaded guilty on charges of securities fraud and obstruction of justice.
Jon Montroll, 37, also known as Ukyo, has pleaded guilty to securities fraud and obstruction of justice in front of the U.S. Magistrate Judge James Cott in Manhattan according to Reuters.
Sneaky Moves
According to the prosecutors, Montroll, who is from Saginaw, Texas, operated the cryptocurrency storage and exchange service WeExchange Australia PTY LTD. He also operated BitFunder.com – a platform which allowed users to sell virtual shares of businesses for bitcoins.