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30-Year-Old Miami Resident Convicted for Crypto Fraud

Published:

According to an announcement by the United States DOJ (Department of Justice), a 30 year-old Miami man, Ryan James Crawford, aka “Brody”, has been sentenced to 5 years  in federal prison for operating a fraudulent crypto and stock investment operation.

As cryptocurrency increases in popularity, more scammers appear with the latest and upgraded methods to defraud investors out of their money, and that is what happened with the Miami man who was sent to prison recently.

READ ALSO:European Union Approves New Cryptocurrency Tax Rules Mandating Data Sharing

The 30-year-old Crawford presented himself as a certified stockbroker who has amassed millions of dollars through stock and crypto investment.

However, he was convicted of defrauding up to $1 million from his victims.

Quick Takes

  • According to the announcement released by the Southern District of Florida Attorney’s Office last Wednesday, the Miami resident goes under the alias of “Brody” to operate a deceitful crypto and stock investment.
  • Crawford operated a fraudulent scheme from June 2020 until March last year. He was able to deceive investors out of nearly $1 million by deceitfully claiming that he could access enough funds to pay back potential investors at the right time.
  • Crawford, aka “Brody”, fraudulently claimed he was a top licensed stockbroker who had acquired tens of millions of dollars via the same crypto and stock investment.
  • In addition, he falsely claimed that he was the developer of AI (artificial intelligence) software, which is known to never lose and misrepresented the investment as a high reward with minimum risk.
  • However, Crawford didn’t return any of the victim’s investment funds or create any massive return on investment as he promised.
  • Instead, Brody spent all the investors’ crypto and fiat money on personal things such as luxury rental cars and gambling at the casinos.
  • The announcement of his conviction was made by the United States Attorney, Markenzy Lapointe and Co. for the Southern District of Florida,

What’s Happening In Crypto Today?

As of this writing, Bitcoin is changing hands at $29,918.79 while recording a 5.16% rise in market cap and a 103.82% rise in trading volume.

On the other hand, Ethereum trades at $1,615.90, with a rise in market cap by 3.94% and an increase in trading volume by 55.69%.

  • Meanwhile, TRON trades at $0.09159, with a slight increase in market cap by 2.90% and an increase in trading volume by 23.25%.
  • On the side of Toncoin, its current price is at $2.11, with a rise in market cap by 4.30% and a drop in trading volume by 4.81%.
  • Whereas Dai is selling at $1.00 while recording a 0.01% drop in market cap and a 36.26% rise in trading volume.
  • On the other hand, Polygon is presently trading at $0.5405, with an increase in market cap by 6.03% and an increase in trading volume by 44.91%.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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