72-YEAR-OLD MASTERMIND OF FRAUDULENT "COIN DEAL" GETS TIME
A Florida man managed to get only 6 years in prison for stealing some $55 million from over 10,000 people.
MG (72), hawked an investment opportunity known as “CoinDeal” or “Coin Deal,” which he claimed would yield high returns. He also promised that if the returns from that deal failed to materialize, he would pay investors their money with 7% annual interest over three years. (Of course, he had no means of making those promised payments or returns.)
And while he represented that he wasn’t paid with investor funds, in actuality, MG purloined some $2.6 million for personal purposes, “including trading cryptocurrency, paying his employees’ salaries, and buying a life insurance policy for a family member.”
Think he got a good deal there?.
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