CRYPTO effect convicted at 45 months for $ 2 million cheater than investors

Thomas John “ie Stone” Sphrag was sentenced in the Federal Court for Real Estate and Crypto investors through the job inspired by TV shows of 90s Seinfeld.

According to a announcement From the US Prosecution, Sphraga was sentenced to 45 months in prison and ordered to pay nearly 1.4 million dollars a feature in the state. The amount of restitution will be posted later.

Sphraga pleaded guilty of the wire cheat Fees in May 2024. Years. He allegedly convinced several victims to invest in a false project of crypto called “Virtual Wallet”. He promised to return investors as much as 60% over a period of three months. In reality, there was no virtual wallet project. Instead, Sphraga used money to pay the costs and to pay earlier victims, as well as business associates, conducting ponsius.

To mislead his victims, Sphraga claimed to have several companies, including the drafting of strong LLC homes and Vandelai contracting Corp. Vandelai Contracting was appointed by fictional “Vander Industries” with Hit TV show Seinfeld, where the character of George Costanza falsified that he falsified the job.

The Sphraga also promoted as an entrepreneur, subcasters and Proponent of CRIPTO. He often worked as an emcee for the events of KrippiCurnence in New York, using his status to acquire the confidence of crypto traders.

According to the edition, Sphraga deceived about 17 victims from Brooklyn, Staten Island and Long Island. He convinced them to borrow money or invest in false instruments related to real estate and crypto. His victim was skipped to borrowing $ 100,000 in cash to cover start-up costs for a fake building project.

American lawyer for the Eastern District of New York, John J. Durham said that Sphraga caused severe financial and emotional damage to his victims, who believed him to deliver his promised investment returns.

“Sphraga stole on friends, neighbors from the next door and parents of children who played in teams with their children, as well as individual cryptocurnent investors,” Durham said in his statement

Based on the recent survey performed in the United States and Canada by North American administrative organizers of securities, cryptocurrency and social media fraud were discovered To be the first two threats faced by retail investors in 2025. years.

About 32% of the recorded fraud lured victims through social media platforms like Facebook and KS, while another 31% are related to messaging services, including telegram and whatsapp.