Fresh news from the crypto world! đ
An 86-year-old former California attorney, David Kagel, has been sentenced to five years probation and ordered to pay nearly $14 million after admitting his involvement in a cryptocurrency Ponzi scheme.
- Kagel and his accomplices promised high risk-free returns to victims.
- They used official letters to gain trust and attract investments.
- The scam raised at least $15 million between 2017 and 2022.
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