Long Island man previously involved in $12 million cryptocurrency fraud sentenced to 18 years in prison

2025-04-24 11:20

Foresight News reports that according to the US Department of Justice, Long Island resident Eugene William Austin Jr. has been sentenced to 18 years in prison for carrying out a $12 million cryptocurrency fraud scheme. The 62 year old defendant conspired with his son Brandon to impersonate a large cryptocurrency trading broker, defrauding entrepreneurs and investors. According to reports, the father and son also used promises of high returns as bait to promote short-term cryptocurrency investment projects. This case involves over 24 victims, mostly friends or acquaintances of the two individuals. His son Brandon had previously been sentenced to 4 years in prison. The two used the proceeds of fraud for extravagant expenses such as luxury hotels, restaurants, and shopping. Austin was arrested and had a 2022 Jaguar E-Pace P250 SUV confiscated.

Loading...