A Texas man convicted of orchestrating a cryptocurrency scam that defrauded nearly 1,000 investors out of more than $20 million has been sentenced to 23 years in federal prison.
Robert Dunlap falsely claimed to operate a cryptocurrency business called “Meta-1 Coin Trust” and made numerous misleading statements to investors, including that the digital asset was backed by $1 billion in art and $44 billion in gold, according to a Thursday press release issued by prosecutors in the Northern District of Illinois.
Dunlap created bogus legal documents to conceal the fact that he did not actually possess the gold or art. ...
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