Crypto influencer sentenced to 45 months in prison for wire fraud

Quick Summary:

Court filings stated that the influencer and podcaster claimed he was the owner of businesses — including Vandelay Contracting, a name based on a running joke from the television series Seinfeld — and the emcee of many crypto events in New York City.“[...] Sfraga convinced a victim to invest in a fictitious cryptocurrency ‘virtual wallet,’” said the Justice Department.“He promised the victims returns on their investments as high as 60% in three months.

Braden John Karony, former CEO of SafeMoon, who also faces EDNY criminal charges, requested in February that his criminal trial for securities fraud conspiracy, wire fraud conspiracy and money laundering conspiracy be pushed based on the administration’s approach to crypto enforcement. The “Seinfeldian” scheme, according to Durham, was not the first time the crypto industry was connected to the popular sitcom.

Thomas John Sfraga, also known as “TJ Stone,” received 45 months in prison for wire fraud and was ordered to pay more than $1.3 million in forfeiture as part of a scheme targeting crypto investors.

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Article Details

Author / Journalist: Cointelegraph by Turner Wright

Category: Crypto

Markets: United States

Topics: Sfraga Fraud Conspiracy Criminal Crypto Wire Cryptocurrency Money John Durham Victims

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-14 @ 18:20:42 (12 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 425 words

Reading Time: 3 minutes read

Sentences: 13 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 26999361

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