“It’s over for the cheater. With much faster exchange rates compared to traditional banking methods, cryptocurrencies are unfortunately being used by fraudsters to quickly extract money from their victims. In this particular case, handled by the US justice system, millions of dollars were sought from crypto-investors. As for a fraudster caught by the same justice system, he faces several years in prison […]”, — write: businessua.com.ua
It’s over for the cheater. With much faster exchange rates compared to traditional banking methods, cryptocurrencies are unfortunately used by fraudsters to quickly extract money from their victims. In this particular case handled by the US justice system, crypto investors were extorted millions of dollars . As for a fraudster caught by the same justice system, he faces several years prison imprisonment.
Key points of this article:
- Brian Harry Sewell was convicted to 36 months in prison for defrauding cryptocurrency investors of $2.9 million.
- Sewell also operated an unlicensed fiat-to-cryptocurrency conversion business, which resulted in a second 36-month prison sentence.
A scammer lied about his skills to swindle crypto investors out of $2.9 million In a recent press release, the U.S. Attorney’s Office for the District of Utah announced the conviction of a 54-year-old man By Brian Harry Sewell by fraud on investors for the total amount 2.9 million dollars .
Thus, the person who pleaded guilty was sentenced to 36 months of imprisonment and then to three years of supervised release for a series of wire fraud she committed between December 2017 and April 2024 against at least 17 investors .
“(…) Sewell exploited his victims by lying about his experience and promising profits he could not deliver, leaving individuals and families to suffer the consequences of his deception. The FBI will continue to prioritize victims by bringing offenders to justice and prosecuting those who misuse cryptocurrencies and unlicensed financial services to exploit others.”
Robert Balls, Special Agent in Charge of the FBI in Salt Lake City
In parallel, from March 2020 to September 2020, Brian Harry Sewell also managed Rockwell Capital Management , unlicensed by a money transfer company which was not registered in accordance with the requirements of the law.
Allegedly, through this company, the man converted over 5.4 million dollars cash to cryptocurrency for third parties (and appropriated commissions). Among them were, “in particular, criminals involved in fraud and drug trade “, the US Attorney’s Office said in a statement.
Sewell was also sentenced to 36 months of imprisonment followed by three years of supervised release on this second charge, but both sentences will be served simultaneously that is, three years of imprisonment.
According to the decision, the fraudster will also have to pay in total $3.6 million in compensation defrauded investors, the mortgage lender and the credit union. At the beginning of January 2026 Chen Zhi, the author of the Prince Holding Group “pig slaughter” scam was arrested in Cambodia and then extradited to China.
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