Bloomberg Law
Feb. 1, 2023, 3:27 PM

My Big Coin Crypto Founder Sentenced to Eight Years in Prison

Bloomberg Law Automation
Bloomberg Law Automation

Randall Crater was sentenced in a Boston federal court to 100 months in prison and three years of supervised release for marketing and selling fraudulent virtual currency and operating an unlicensed virtual currency exchange, the Justice Department said Wednesday.

The My Big Coin founder was also ordered to pay forfeiture of $7,668,317 and restitution in an undetermined amount, according to the department.

Crater was convicted by a federal jury in July of four counts of wire fraud, three counts of unlawful monetary transactions, and one count of operating an unlicensed money transmitting business, the department said.

This story was produced ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.