• Thomas Clausi was sentenced to 18 months in jail for orchestrating a crypto scam.
• He must also compensate victims of his scam and pay a fine of 3.4 million euros.
• Gilbert Armenta, Cooper Morgenthau, and other criminals were arrested for their participation in illegal activities related to cryptocurrency.
Sentence For Crypto Fraudster
The Casablanca Court of Appeals has ruled that 21-year-old Frenchman – Thomas Clausi – will serve an 18-month prison sentence for orchestrating a crypto scheme. The defendant must also compensate the victims of his scam and pay a fine of 3.4 million euros ($3.7 million) to customs authorities.
Crypto fraudsters have been quite inventive recently, draining significant sums from investors. Fortunately, law enforcement agencies have arrested and sent to jail some of them including Gilbert Armenta – the ex-lover of Ruja Ignatove (better known as the “Cryptoqueen”) who will go behind bars for five years after participating in the infamous OneCoin scam and Cooper Morgenthau – the former CFO of African Gold who was sentenced to three years after stealing $5 million from different SPACs to trade meme stocks.
Ferrari BTC Purchase Gone Wrong
Clausi’s trial proceedings started when he purchased a Ferrari car worth 440,000 dollars using bitcoin which is considered an illicit payment method by local laws in Morocco where this happened. Additionally, another individual claimed Clausi bought three luxury watches in exchange for a counterfeit check as well.
Compensation & Fine
The Casablanca Court ordered the man to refund the original owners with 3.4 million euros plus compensation fees while serving his 18 month prison sentence which he has already served most part off since being arrested few years back due to this incident .
Cryptocurrency related crimes are becoming more and more frequent day by day making it important for law enforcement agencies around the world take action against such fraudulent activities promptly before innocent people get robbed off their hard earned money or assets like expensive cars or luxury watches .