{"id":17641,"date":"2024-10-09T16:19:45","date_gmt":"2024-10-09T13:19:45","guid":{"rendered":"https:\/\/forklog.com\/en\/elderly-american-ordered-to-pay-nearly-14-million-for-crypto-pyramid-scheme\/"},"modified":"2024-10-09T16:19:45","modified_gmt":"2024-10-09T13:19:45","slug":"elderly-american-ordered-to-pay-nearly-14-million-for-crypto-pyramid-scheme","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/elderly-american-ordered-to-pay-nearly-14-million-for-crypto-pyramid-scheme\/","title":{"rendered":"Elderly American Ordered to Pay Nearly $14 Million for Crypto Pyramid Scheme"},"content":{"rendered":"<p>A Las Vegas court has <a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.nvd.166855\/gov.uscourts.nvd.166855.40.0.pdf\">sentenced<\/a> 86-year-old former attorney David Keagle from California to a five-year suspended sentence for orchestrating a cryptocurrency pyramid scheme.<\/p>\n<p>The defendant will pay approximately $13.95 million in restitution. In May, he pleaded guilty to a single charge.<\/p>\n<p>Keagle is currently in hospice care at a Las Vegas nursing home due to health issues. The facility will monitor his stay under supervision. Should he leave, the former lawyer will be fitted with a monitoring device.<\/p>\n<p>According to court <a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.cacd.889787\/gov.uscourts.cacd.889787.1.0.pdf\">documents<\/a>, Keagle and two accomplices lured victims into a Ponzi scheme from December 2017 to June 2022. The fraudsters promised high, risk-free returns through the use of a trading bot.<\/p>\n<p>The scammers assured users of net profits ranging from 20% to 100% on investments within 30 days.<\/p>\n<p>To lend credibility, Keagle used letterheads from his law firm in correspondence with investors. It is estimated that he managed to attract at least $15 million.<\/p>\n<p>Both his accomplices, David Saffron and Vincent Mazzotta, have refused to plead guilty and await a decision from the Federal Court in Los Angeles.<\/p>\n<p>In October, in New York, IcomTech crypto pyramid organizer David Carmona was sentenced to 10 years in prison.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Las Vegas court has sentenced 86-year-old former attorney David Keagle from California to a five-year suspended sentence for orchestrating a cryptocurrency pyramid scheme. The defendant will pay approximately $13.95 million in restitution. In May, he pleaded guilty to a single charge. Keagle is currently in hospice care at a Las Vegas nursing home due [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17640,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1162,1163,26],"class_list":["post-17641","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-court-cases","tag-ponzi-schemes","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/17641","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=17641"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/17641\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/17640"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=17641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=17641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=17641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}