ChainCatcher reports that, according to market sources, 24-year-old Connecticut man Elmin Redzepagic faces up to 375 years in prison for allegedly embezzling nearly $1 million in cryptocurrency investor funds to gamble on the Stake platform.
Prosecutors accuse him of impersonating a cryptocurrency investment expert working under the name “The Chef,” promising clients high returns but actually using the funds for gambling. Last month, a federal grand jury indicted him on 21 charges, including seven counts of wire fraud, eleven counts of international money laundering, and three counts of making false statements to IRS criminal investigators. This Thursday, Redzepagic pleaded not guilty to all charges and was released on a $500,000 bond.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Regulatory Storm Brewing? The US SEC and CFTC Keep a Close Watch on the Prediction Market
The prediction markets in the United States have rapidly emerged in recent years, attracting the attention of regulatory agencies. SEC Chairman Paul Atkins emphasized that the legal status of prediction markets as "gambling" or "financial instruments" remains controversial, especially for contracts involving events such as elections. The overlapping regulatory authority requires collaboration between federal and state governments, and whether clear rules will be established in the future remains to be seen.
区块客10m ago
Kevin O’Leary wins the case! BitBoy defamation lawsuit results in a $2.8 million payout, sparking heated discussion over the consequences of "doxxing" on social media platforms
February 14 News, Kevin O’Leary won a default judgment in a defamation case against Ben “BitBoy” Armstrong in the Southern District of Florida Federal Court, with a total compensation of $2.8 million. The court found that the defendant’s posting of “malicious” false accusations and private information on social media constituted serious defamation and punitive damages.
The judgment shows that O’Leary was awarded $750,000 in emotional distress damages, $78,000 in reputation damages, and an additional $2 million in punitive damages. The judge noted that as a public figure engaged in media and business collaborations, damage to O’Leary’s reputation would directly affect his performance invitations and business relationships. Expert testimony, based on the viewership of the involved posts, the size of the affected audience, and repair costs, estimated the reputation loss at $78,000.
GateNewsBot2h ago
Trump ally Bannon and Epshteyn sued collectively by investors over Patriot Pay token
Missouri investor Andrew Barr filed a class-action lawsuit in the Washington Federal Court, accusing Trump ally Steve Bannon and his team of defrauding thousands of investors through unregistered cryptocurrency schemes, with the plaintiff losing over $58,000 and seeking compensation.
TechubNews7h ago
Two of Trump's "long-term allies" sued collectively by investors over "Patriot Pay" tokens
Investors in Missouri, USA, filed a lawsuit in federal court accusing Trump ally Steve Bannon and his company of defrauding investors through unregistered cryptocurrencies, claiming they concealed risks while promoting "Let's Go Brandon Coin" and "Patriot Pay," resulting in losses for thousands of investors. The plaintiffs are seeking compensation.
GateNewsBot7h ago
U.S. Senator Requests Foreign Investment Committee to Review UAE Acquisition of Trump Family's Cryptocurrency Company Stake
U.S. Democratic Senators in the Senate have written to the Treasury Secretary, requesting a review of the transaction in which the UAE acquired a 49% stake in the Trump family’s crypto company, due to concerns involving national security and sensitive information protection.
TechubNews7h ago
