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
Indian court says ‘no case’ against CoinDCX founders in impersonation fraud
CoinDCX co-founders were granted bail by a Thane court, as no prima facie case was established against them in a 71 lakh INR cheating complaint related to a fake trading platform. The court noted that another person was responsible for the fraud.
Cointelegraph9m ago
Circle Stock Price Plunges 20% Over Revenue Ban, New Regulations May Create Regulatory Moat for USDC
Circle Internet Group's stock price plummeted 20%, losing $4.6 billion in market value, due to a draft Digital Asset Market Transparency Act that prohibits providing passive yields to stablecoin holders. Despite short-term impacts on application restrictions, analysts believe the bill will build a regulatory moat for Circle and optimize its business model. Additionally, Tether has committed to accepting audits to enhance transparency. USDC's future performance will influence market trends.
GateNews38m ago
Crypto KOL "Trading Signal Teacher" Crosses the Line! FSC Finally Takes Action: Regulated Under Gold Management Protection Regulations Sublaw
The Financial Supervisory Commission plans to strengthen supervision of cryptocurrency KOLs and signal-calling behavior through implementing regulations under the Financial Consumer Protection Act to protect investors and close regulatory gaps. This measure will require KOLs to enter into contracts with virtual asset service providers to ensure compliance of advertising and solicitation activities, and prevent the expansion of market manipulation and fraud.
CryptoCity42m ago
Tether and Circle Freeze $2.49 Million in Stablecoins at Iranian Exchange Wallex, Assets Urgently Transferred to BSC
Tether and Circle have blacklisted the Ethereum hot wallet of Iranian exchange Wallex, freezing approximately $117,000 in USDT and USDC. Wallex transferred $2.49 million in assets to another BSC address hours before the freeze, suggesting coordinated compliance enforcement by stablecoin issuers. This incident reflects increasingly strict regulatory scrutiny of cryptocurrency platforms associated with Iran.
GateNews42m ago
Jump Trading Responds to Terraform's $4 Billion Lawsuit, Calling Allegations an Attempt to "Shift Responsibility"
Jump Trading Counterattacks $4 Billion Lawsuit, Accusing Terraform Labs Executives of Coordinated Market Manipulation. The collapse of the Terraform project resulted in investor losses of approximately $40 billion. Jump claims the lawsuit constitutes improper allegations, with some charges having exceeded the statute of limitations, raising market concerns about institutional trading risks.
GateNews1h ago
Bitcoin Wallet Keys Disappear for Years, Irish Police Crack Case to Discover $391 Million
Ireland's Criminal Assets Bureau successfully cracked drug dealer Clifton Collins' Bitcoin wallet private key and obtained 500 Bitcoin. Collins had previously used drug proceeds to purchase 6,000 Bitcoin, stored across 12 wallets, with the private keys reported stolen and missing, making them thought to be permanently inaccessible. This successful crack breaks the conventional understanding that lost Bitcoin private keys cannot be accessed, demonstrating a major breakthrough for law enforcement agencies in managing digital assets.
MarketWhisper2h ago
