47-Year-Old Man Pleads Guilty to Crypto Fraud
Adam Davis, a 47-year-old man, pleaded guilty to fraud using electronic communications on January 25, 2024. The prosecution revealed that he had stolen over $8 million worth of cryptocurrency from a female investor he was advising.
Judge Orders Prison Sentence and Compensation
District Judge Wendy Bitlstone sentenced Davis to prison and ordered him to pay over $2.1 million in compensation to the victim. The judge emphasized that stealing people’s funds, whether in cryptocurrency or cash, has consequences and will not be tolerated.
Cybercriminals Will Be Held Accountable
Prosecutor Jacqueline Romero reiterated the commitment to holding cybercriminals accountable: «We will be relentless in holding all cybercriminals accountable for harming people. Crime, regardless of its form, will always receive appropriate punishment.»
Former Deutsche Bank Employee Convicted
In May 2024, a former Deutsche Bank employee was sentenced to 41 months in prison and ordered to pay $1.5 million to investors affected by his cryptocurrency fraud.
