Premium Invest Hub
  • Investing
  • Stock
  • Latest News
  • Editor’s Pick
  • Economy
Popular Topics
  • Occupied West Bank rocked by day of violence as gunmen kill three Israeli settlers and reprisal attacks reported
  • Azerbaijan’s leader accuses Russia of passenger jet crash ‘cover up’ in blistering new attack on neighbor
  • Spanish woman killed by elephant in Thailand while bathing animal, police say
  • US adds Chinese tech giants to list of companies allegedly working with China’s military
  • Bad news for homebuyers in the Northeast and Midwest

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions
    Premium Invest Hub
    • Investing
    • Stock
    • Latest News
    • Editor’s Pick
    • Economy
    • Investing

    Fraud Conviction of ‘My Big Coin’ Founder Randall Crater Upheld on Appeal

    • February 27, 2024

    A US appeals court has upheld the prior sentencing of “My Big Coin” fraud founder Russell Crater.

    Crater will serve over 8 years and pay $7.6 million for orchestrating a fraud from 2013 to 2017, facing charges including wire fraud, unlawful transactions, and running an unlicensed money business.

    He contended his Sixth Amendment rights were breached when the court didn’t compel testimony from USPS, CFTC, and FBI staff.

    Crater sought to challenge the conduct of USPS and FBI agents, claiming their reports biased witnesses’ memories.

    Additionally, he disputed the credibility of blockchain expert Pamela Clegg from CipherTrace, arguing she lacked qualifications.

    The appellate court found Crater’s appeals insufficient to alter his sentence.

    Another High-Profile Crypto Coin Fraud


    Across the Atlantic another fraudster from Bitcoin’s early days is under the spotlight. Or at least she would be, if police could find her.

    A Chinese woman known under the name “Yadi Zhang” is wanted both in China and Britain for her role in laundering money stolen from investment fraud schemes perpetrated between 2014 and 2017.

    Chinese authorities allege Zhang stole $6.3 billion at the time.

    Like Crater, Zhang was able to commit multiple counts of fraud in open sight because there was very little scrutiny of what was going on in crypto before Bitcoin’s 2021 bull run.

    When she got to London, Zhang employed an assistant, Wen, to help her launder the money. Wen alleges that she was under the impression Zhang had given her that the latter ran a prestigious jewellery and antiques business.

    Wen is currently on trial in the UK on money laundering charges.

    In 2017 and 2018, the pair converted the Bitcoin loot into fiat, jewellery and property.

    When Wen tried to buy a $12.5 million home with gym and cinema in Zhang’s name through law firm Mishcon de Reya, the purchase failed because the law firm could not verify the source of the bitcoin. In October 2018, the Met police froze Zhang’s Mishcon account.

    That same year, the M raided the duo’s Hampstead mansion and seized over 61,000 Bitcoin, valued $1.7 billion at the time ($2.5 billion today), from a safe deposit box containing four hardware wallets.

    The police successfully recovered the cryptocurrency from the devices in 2021 and announced it last month.

    The post Fraud Conviction of ‘My Big Coin’ Founder Randall Crater Upheld on Appeal appeared first on Cryptonews.

    Previous Article
    • Investing

    SEC to “Ramp Up in Enforcement and Regulatory Actions” in 2024, New Report Reveals

    • February 27, 2024
    View Post
    Next Article
    • Investing

    Legal Woes of Former Binance CEO Spotlight Trust Issues in the Crypto Industry

    • February 27, 2024
    View Post

      Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


      By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

      Popular Topics
      • Occupied West Bank rocked by day of violence as gunmen kill three Israeli settlers and reprisal attacks reported
      • Azerbaijan’s leader accuses Russia of passenger jet crash ‘cover up’ in blistering new attack on neighbor
      • Spanish woman killed by elephant in Thailand while bathing animal, police say
      • US adds Chinese tech giants to list of companies allegedly working with China’s military
      • Bad news for homebuyers in the Northeast and Midwest
      Copyright © 2025 premiuminvesthub.com | All Rights Reserved
      • About us
      • Contact us
      • Privacy Policy
      • Terms & Conditions

      Input your search keywords and press Enter.