Texas man behind $20 million crypto scam gets 23 years in federal prison from Illinois judge

From cbsnews.com

An Illinois judge has sentenced a Texas man to more than two decades in federal prison for orchestrating a $20 million cryptocurrency scam. Prosecutors said Robert Dunlap, 55, of Houston, Texas, claimed to own a cryptocurrency business selling a digital asset called Meta-1 Coin through a Meta-1 Coin Trust between 2018 and 2023. During this time, Dunlap told potential and actual investors that his coin was backed by as much as $1 billion in art and $44 billion in gold, neither of which was true. Dunlap also falsely claimed that the gold had been audited by an accounting firm, which certified its value. According to ... (full story)