Ex-SEC chair, now heading SDNY, offers rebuke in $12M crypto fraud case

He has approved three oppositions, was part of the labor bag of court clerks and, at the age of 40, had practically his life resolved. Gaditano with square in Marbella, who know him define him as a working official, who never improvises. Everything changed last September, when he had to guard a very special envelope. Inside there were 12 valuable words that gave access to a wallet of cryptocurrencies that at that time were valued at 18 million e…

Long Island Man Handed 18-Year Sentence For Orchestrating $12 Million Crypto Scam

Eugene William Austin Jr., a Long Island man, along with his son Brandon, has been convicted in a crypto scam that defrauded over 24 victims. The duo posed as cryptocurrency brokers, deceiving investors with false promises of high returns. The court sentenced Austin to 18 years in prison, ordered him to repay $12.66 million, forfeit over $6 million, and surrender a luxury Jaguar SUV used during the scheme. A man from Long Island, the southeaster…

Ex-SEC chair, now heading SDNY, offers rebuke in $12M crypto fraud case - WorldNL Magazine

Former SEC chair Jay Clayton has released public statements on criminal cases involving crypto since becoming interim US Attorney for the Southern District of New York on April 22. Jay Clayton, recently appointed interim US Attorney for the Southern District of New York (SDNY) and former chair of the Securities and Exchange Commission, has begun offering statements in criminal cases involving crypto fraud.In an April 23 notice, the US Attorney’s…

Ex-SEC chair, now heading SDNY, offers rebuke in $12M crypto fraud case

Interim US Attorney for the Southern District of New York Jay Clayton called out a fraudster using crypto to bilk victims out of $12 million after a sentencing hearing.

Crypto Scammer Hugh Austin Gets 18 Years for $12M Fraud Scheme

Crypto Scammer Hugh Austin Sentenced to 18 Years for $12M Fraud Scheme Eugene William Austin Jr., also known as “Hugh Austin,” has been sentenced to 18 years in federal prison for orchestrating a cryptocurrency scam that conned investors out of more than $12 million. The Justice Department this week confirmed the sentencing, with Austin, 62, operating the scheme for several years and conning more than two dozen victims. Bogus Crypto Offers and P…

Crypto fraudster Hugh Austin sentenced to 18 Years for $12m scam

Eugene William Austin Jr., also known as “Hugh Austin,” was sentenced to 18 years in prison for leading a multi-year scheme that defrauded more than two dozen victims out of $12 million.  His son, Brandon Austin, was previously sentenced to…