Crypto Fraudster Sentenced to 8 Years for $40M Ponzi Scheme

币界网报道:A U.S. federal judge has sentenced 28-year-old cryptocurrency fraudster Idin Dalpour to eight years in prison for orchestrating a $40 million Ponzi scheme that targeted investors in Las Vegas hospitality and crypto ventures. Dalpour pleaded guilty in May to wire fraud charges after admitting he fabricated business operations, including a Las Vegas concierge service and a crypto trading enterprise, to lure victims between 2020 and 2022. Prosecutors revealed Dalpour spent stolen funds on personal luxuries, including $1.7 million for sports betting and $875,000 on a penthouse apartment, while using new investor money to pay fake returns to earlier participants - a hallmark of Ponzi schemes. The sentencing comes amid heightened regulatory scrutiny of crypto-related fraud, with U.S. authorities increasingly pursuing criminal charges against digital asset scammers. Dalpour's case marks another high-profile conviction following recent prison terms for other crypto fraudsters like OneCoin's Karl Sebastian Greenwood and BitConnect's Satish Kumbhani. The judge ordered Dalpour to forfeit $44 million and pay $23 million in restitution to victims, though prosecutors acknowledged full repayment appears unlikely given the dissipated funds. This sentencing underscores the Justice Department's expanding efforts to combat financial crimes in the cryptocurrency sector, particularly schemes exploiting retail investors' limited understanding of blockchain technology.

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