The U.S. District Court for the Southern District of New York has sentenced another three defendants in the $100 million crypto Ponzi scheme AirBit.
AirBit Club co-founder Dos Santos is now the last AirBit defendant not yet sentenced but is scheduled to learn his fate on Oct. 4, 2023.The United States District Court for the Southern District of New York is progressing with the sentencing procedure of key individuals behind the cryptocurrency Ponzi scheme AirBit Club.the sentencing of three of the five surviving defendants in the AirBit case, including Scott Hughes, Cecilia Millan and Karina Chairez.
Additionally, Hughes was sentenced to three years of supervised release. Millan and Chairez were also sentenced to three years and three months of supervised release, respectively.and was promoted as a “multi-level marketing club” in the cryptocurrency industry. The defendants provided promising presentations to trick investors into thinking that AirBit Club had guaranteed daily returns from crypto mining and trading.
“Today’s sentences send a message that anyone who facilitates cryptocurrency investment schemes — not only those at the very top of the pyramid — will face serious consequences for such crimes.in prison in late September 2023. Dos Santos, another co-founder who has pleaded guilty to charges including wire fraud conspiracy, money laundering and bank fraud conspiracy, is scheduled to be sentenced on Oct. 4, 2023.
Santos will be the last defendant to be sentenced out of a total six defendants behind AirBit Club. Jackie Aguilar, who pled guilty in February 2023,
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