A fund manager has been sentenced to more than seven years in prison for operating a Ponzi scheme that cheated investors out of $54 million.
Stefan He Qin, the founder of two cryptocurrency hedge funds has been sentenced to more than seven years in prison after U.S. authorities found that he cheated investors out of $54 million,A Sept. 15 statement from the U.S. Department of Justice (DoJ) announced that U.S. District Judge Valerie Caproni handed Qin a 90 month sentence for defrauding his investors out of $54 million.The 24-year-old Australian owned and operated two cryptocurrency investment funds between 2017 and 2020 — Virgil Sigma and VQR, the latter of which was founded in February 2020.Despite Virgil Sigma claiming to invest clients’ assets in cryptocurrency arbitrage strategies, the DoJ found that Qin had embezzled investor capital from the fund to pay for personal expenses including food, rent, and private investm

Czytaj więcej

Źródło: https://cointelegraph.com/news/aussie-crypto-fund-manager-sentenced-to-7-years-for-stealing-54m-from-investors