Related Federal Cases
- Frank Hamilton, Loan Shark Scheme, California 2023 · California
- McKenzie Marie Earley, $10M Wire Fraud, C.D. California, 2023 · Louisiana
- Octavio El Pelon, ID Mill Operation, California 2024 · New York
- Jason H Wild, Marine Corps Embezzlement, California 2023 · Louisiana
- Karl Robinson, Foreclosure Rescue Scheme, California 2023 · California
Cryptocurrency Executive Defrauded and Extorted in California
Anthony Francis Faulk, 26, of Latrobe, Pennsylvania, has been sentenced to serve 36 months in prison for his role in a conspiracy to defraud and extort more than a dozen cryptocurrency owners. In addition to the prison sentence, Faulk was ordered to pay nearly $3 million in restitution to his victims.
The scheme, which involved ‘SIM swapping,’ targeted cryptocurrency owners by duping cellphone companies into giving Faulk and his co-conspirators control of their cellphone numbers. Once in possession of the illegally obtained information, members of the conspiracy reset passwords of their victims’ email, electronic storage, and other accounts, allowing them to access cryptocurrency accounts and transfer cryptocurrencies from accounts owned by the victims to accounts controlled by Faulk and his co-conspirators.
Faulk also admitted that the co-conspirators contacted some of their victims by telephone and threatened to compromise further accounts unless the victims paid additional money to the fraudsters. The court ordered forfeiture of numerous assets, including a nearly $1 million home in Latrobe, Pennsylvania, and several vehicles, as well as diamond jewelry, a Rolex, Tiffany earrings, and a Louis Vuitton handbag and wallet.
The case was prosecuted by the Corporate and Securities Fraud Section of the U.S. Attorney’s Office, with Assistant United States Attorney Robert Leach leading the prosecution. The investigation was conducted by the Federal Bureau of Investigation (FBI). Faulk’s co-conspirators, Matthew Ditman and Ahmad Hared, are due to be sentenced separately.
Faulk’s written plea agreement, filed on March 2, 2023, acknowledged his role in the conspiracy. He was ordered to pay $2,816,433 in restitution to 11 victims of the scheme. Faulk was also ordered to forfeit numerous assets constituting or derived from proceeds traceable to the conspiracy.
The U.S. Attorney’s Office for the Northern District of California, led by United States Attorney Ismail J. Ramsey, announced the sentence. FBI Special Agent in Charge Robert K. Tripp also acknowledged the agency’s role in the investigation. The case is the result of a joint effort between the FBI and the U.S. Attorney’s Office.
In addition to the prison sentence, Faulk was ordered to pay restitution and forfeit assets in the case. The exact date of the sentencing was not specified in the press release.
Key Facts
- State: California
- Category: Cybercrime & Fraud
- Source: DOJ Press Release â†â€â€
ðŸâ€Â’ Get the grimiest stories delivered weekly. Subscribe free →
MORE FEDERAL CRIME NEWS
US NewsUS NewsUS NewsUS News