đš Crypto News Flash: CluCoin Founder Pleads Guilty to $1M Investor Fraud đš
Austin Michael Taylor, founder of Miami-based CluCoin, has pleaded guilty to stealing over $1 million from investors. Court docs reveal Taylor diverted funds meant for CluCoin projects to his personal crypto wallets and online casinos. Initially launched in 2021 with a charity focus, the project veered off course as Taylor's gambling addiction took hold.
Taylor admitted to the fraud in January 2023 and has agreed to forfeit $1.14 million for restitution. Sentencing is set for Oct. 31, where he faces up to 20 years in prison.
đŹ What are your thoughts on this case? Share below!