Court upholds fraud conviction against My Big Coin founder
The appellate court upheld the fraud conviction against Randall Crater, who founded the cryptocurrency project My Big Coin and was sentenced to more than eight years in prison. In a filing submitted to the First Circuit Court of Appeals on February 23, a panel of three judges confirmed Randall Crater's conviction over a year after a jury found the cryptocurrency founder guilty of four counts of wire fraud, three counts of illegal monetary transactions, and one count of operating an unlicensed money transmitting business. Appellate Judges Gustavo Gelpí, Jeffrey Howard, and Julie Rikelman issued an opinion stating that Randall Crater should not receive a new trial to participate in cryptocurrency plans.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
SEC seeks sanctions against Elon Musk over Twitter purchase
SEC greenlights listing and trading options for BlackRock's spot bitcoin ETF
The SEC approved spot bitcoin ETFs earlier this year, but had not yet approved listing and trading for options on those products.
Securitize adds Wormhole for multi-chain RWA tokens
Telegram May Face India Ban After Hacker Exploits Chatbots to Leak Insurer Data