A man previously accused of lying to customers about their cryptocurrency investments and instead used their funds for services and luxury items etc. for himself, was now ordered to pay $36 million dollars in penalties, the majority of the fines will be going to investors.
Judge Vince Chhabria of the U.S. District Court for the Northern District of California ordered William Koo Ichioka 30, to pay $31 million to his victims on Friday 20 Sept.
Ichioka used investors’ money to pay for rent, restaurants, bars, taxi rides, gym memberships and luxury vehicles, to name but a few, according to the Court order.
