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Cryptocurrency Fraudster Nicholas Truglia Sentenced to Additional 12 Years in Prison for Failure to Pay Restitution
Summary: According to The Block, convicted cryptocurrency fraudster Nicholas Truglia has been sentenced to an additional 12 years in prison for failing to pay restitution related to a $20 million cryptocurrency fraud scheme. Truglia had previously been sentenced to 18 months in December 2022. The U.S. Department of Justice reported that he was involved in a ...
According to The Block, convicted cryptocurrency fraudster Nicholas Truglia has been sentenced to an additional 12 years in prison for failing to pay restitution related to a $20 million cryptocurrency fraud scheme.
Truglia had previously been sentenced to 18 months in December 2022. The U.S. Department of Justice reported that he was involved in a scam that illegally gained access to $20 million worth of cryptocurrency wallets by swapping victims' phone numbers to bind SIM cards. Truglia assisted in emptying victims' funds and converting assets into Bitcoin.
He pleaded guilty to conspiracy to commit wire fraud and had served 12 months of his 18-month sentence at the time of the hearing. It was revealed during the hearing that he had agreed to pay over $20 million in restitution to the victims.
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Link: Cryptocurrency Fraudster Nicholas Truglia Sentenced to Additional 12 Years in Prison for Failure to Pay Restitution [Copy]
