Title: Lawyer Pleads Guilty in $9.5M Crypto Ponzi Scheme — Faces 5 Years in Prison
Post by: Bitcoin on May 31, 2024, 07:01 am
Post by: Bitcoin on May 31, 2024, 07:01 am
Lawyer Pleads Guilty in $9.5M Crypto Ponzi Scheme -- Faces 5 Years in Prison
David Kagel, a disbarred California attorney, pleaded guilty to orchestrating a cryptocurrency Ponzi scheme that defrauded victims of over $9.5 million. Kagel, 85, promised high returns through artificial intelligence trading bots and falsely claimed to hold $11 million in bitcoin to secure investments. He used his attorney position to instill trust, providing fake letters on […]
Source: Lawyer Pleads Guilty in $9.5M Crypto Ponzi Scheme -- Faces 5 Years in Prison (https://news.bitcoin.com/lawyer-pleads-guilty-in-9-5m-crypto-ponzi-scheme-faces-5-years-in-prison/)
David Kagel, a disbarred California attorney, pleaded guilty to orchestrating a cryptocurrency Ponzi scheme that defrauded victims of over $9.5 million. Kagel, 85, promised high returns through artificial intelligence trading bots and falsely claimed to hold $11 million in bitcoin to secure investments. He used his attorney position to instill trust, providing fake letters on […]Source: Lawyer Pleads Guilty in $9.5M Crypto Ponzi Scheme -- Faces 5 Years in Prison (https://news.bitcoin.com/lawyer-pleads-guilty-in-9-5m-crypto-ponzi-scheme-faces-5-years-in-prison/)