US EditionFormer Seattle Semi-Pro Rugby Player Sentenced for Crypto Ponzi Scheme
COWETA COUNTY, GEORGIA, JUL 17 – The scheme used patriotic messaging to attract Trump supporters and diverted $570,000 to political donations, according to the U.S. Securities and Exchange Commission (SEC).
- Shane Donovan Moore, a 37-year-old ex-semi-professional rugby athlete from Seattle, received a 30-month prison term for running a fraudulent cryptocurrency mining scheme from January 2021 to October 2022.
- Moore falsely claimed investor funds would buy cryptocurrency mining equipment, but instead used the money to pay off earlier investors and fund a lavish lifestyle, leaving investor losses over $387,000.
- The scheme recruited about 40 investors from multiple states, many personally connected to Moore through rugby, with early investors encouraging friends and family to invest.
- Acting U.S. Attorney Miller explained that Moore exploited the emerging nature of cryptocurrency to carry out a classic Ponzi scheme, raising over $900,000 from investors but redirecting the funds to personal expenses and to pay returns to earlier investors in order to maintain the fraud.
- Moore’s sentence highlights ongoing risks of crypto fraud, emphasizing the need for investor caution and legal accountability in emerging financial technologies.
16 Articles
16 Articles
Seattle rugby player sentenced for $900K crypto mining fraud
A 37-year-old Seattle semi-pro rugby player was sentenced to 30 months in prison for wire fraud on Wednesday, the Department of Justice (DOJ) announced. Shane Donovan Moore operated Quantum Donovan LLC, a Washington company that Moore claimed purchased and operated cryptocurrency mining equipment, although the company never purchased such equipment, and operated as a Ponzi scheme. RELATED STORIES'Suspicious' Mason County death under investigatio…
Georgia Recorder
Georgia man accused of running $140M Ponzi scheme contributed to 3 Alabama officials
First Liberty Building and Loan the day after the Securities and Exchange Commission filed its complaint against the Newnan-based lender. Jill Nolin/Georgia RecorderA Georgia man accused of running an alleged Ponzi scheme made contributions to at least three elected Alabama Republican officials over the last four years, either directly or through his businesses, according to campaign finance records. The recipients of the funds from Edwin Brant …
Former rugby player sentenced for $900,000 crypto Ponzi | The New York Ledger
Previous rugby gamer Shane Donovan Moore was sentenced to two-and-a-half years in a United States federal jail for defrauding more than 40 financiers out of $900,000 in a crypto mining Ponzi plan. According to a Thursday Department of Justice statement, Moore ran Quantum Donovan LLC from January 2021 to October 2022. Through the business, he supposedly defrauded over 40 financiers out of more than $900,000. While promoting the plan, Moore declar…
Ex-Rugby Star Jailed for Running $900K Crypto Ponzi Scheme
In a recent development that underscores the ongoing issues of fraud within the cryptocurrency industry, Shane Moore, a former professional rugby player, has been sentenced to 2.5 years in prison for orchestrating a crypto mining Ponzi scheme. The case highlights the persistent challenges of regulatory oversight in the burgeoning and often opaque cryptocurrency sector. Details of the Fraudulent Scheme Shane Moore, who transitioned from sports to…
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