Texas Man Indicted in $10 Million Digital Currency Fraud Scheme

A Texas man has been charged with four counts of mail fraud in connection to a $10 million digital currency scam, according to the Justice Department on Tuesday.

From 2018 to 2023, Houston’s Robert Dunlap allegedly marketed and sold the digital asset, “Meta-1 Coin,” based on numerous false statements about the currency’s backing, claiming the coin was backed by $44 billion in gold and art.

Dunlap also allegedly told investors that they could exchange their investments at anytime for other cryptocurrencies, and forged legal and insurance documents to cover up his false claims, said the DOJ. If convicted, Dunlap ...