86-Year-Old Former Lawyer Sentenced to Pay $14 Million for Running Bitcoin Ponzi Scheme $BTC

86-year-old former California lawyer David Kagel was sentenced to five years probation and ordered to pay nearly $14 million for leading a Bitcoin Ponzi scheme. 💼💰 The sentence, issued on October 8 in Las Vegas, stemmed from his guilt in a commodities fraud, after he admitted his role in the scheme in May. Kagel and two accomplices deceived investors by promising them high risk-free returns through cryptocurrency bots, managing to raise around $15 million of funds from victims. 💻📉 A real failed investment "tip"!