An 86-year-old former attorney, David Kagel, has been sentenced to five years probation and ordered to pay nearly $14 million after admitting to running a crypto Ponzi scheme. From 2017 to 2022, Kagel and accomplices defrauded investors of at least $15 million by promoting a fraudulent crypto trading scheme. Kagel used his law firm's letterhead to gain trust, falsely promising high returns with no risk. His law license was revoked in 2023 for misappropriating client funds. Kagel is in hospice care and will serve probation thereâ
