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CryptoIntelligence 2024-05-20 14:33:00

Crypto Personality Thomas John Sfraga Pleads Guilty to $1.3 Million Ponzi Scheme

Cryptocurrency personality Thomas John Sfraga has pleaded guilty to wire fraud, admitting to deceiving more than a dozen victims into investing in fictitious ventures, including fraudulent cryptocurrency schemes. “Sfraga convinced a victim to invest in a fictitious cryptocurrency ‘virtual wallet,’” the United States Department of Justice (DOJ) declared in a May 17 statement. The agency elaborated that Sfraga has experience in podcasting and the crypto industry, including hosting crypto events in New York. “He promised the victims returns on their investments as high as 60% in three months,” the DOJ added. However, Sfraga was operating a Ponzi scheme, where returns

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