Former California attorney David Kagel was sentenced to five years of probation and ordered to pay nearly $14 million after pleading guilty to running a multimillion-dollar crypto Ponzi scheme. Las Vegas federal court Judge Gloria Navarro sentenced Kagel in May after he pleaded guilty to conspiracy to commit commodities fraud. Kagel will serve his probation at a Las Vegas nursing home due to health issues. Prosecutors said Kagel and two accomplices defrauded investors between 2017 and 2022 with promises of high returns. We welcome your comments.