A Virginia federal judge sentenced the 61-year-old CEO of Praetorian Group International to 20 years in prison for orchestrating a $200 million Bitcoin Ponzi scheme that ran from late 2019 through 2021. He lured investors with phony daily returns of 0.5%-3% via a fake online trading portal, but no real trading ever occurred. Prosecutors detailed how he spent millions on luxury homes in Las Vegas and Los Angeles, high-end cars, designer goods, and family transfers. The court also ordered $62.7 million in restitution and forfeiture of $12.2 million in cash and properties as victims pursue compensation.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Strategy, formerly known as MicroStrategy, endured a bruising second quarter, yet the company wasted little…
Stablecoin demand is showing signs of weakening even as Bitcoin continues to trade above $60,000.…
Bitcoin, the pioneer cryptocurrency that was created to be digital money, is now failing to…
Cardano price jumped over 6% this week as whale accumulation accelerated and on-chain activity flashed…
Ethena (ENA) price continues to consolidate within a multi-month falling wedge on the daily chart,…
Story Highlights The live price of the Avalanche is . Price predictions for 2026 highlight…
