⏱ 2 min read
Daniel Chartraw, a 53-year-old former resident of South Lake Tahoe and Lodi, orchestrated a series of brazen cryptocurrency and investment fraud schemes that swindled investors out of nearly $1 million. Between March 2021 and February 2022, Chartraw and an associate controlled multiple companies, including Crypto-Pal LLC and TDA Global LLC, promising guaranteed high returns with no risk. Chartraw used various aliases, including ‘Leonard’ or ‘Leon’, to conceal his identity due to a prior fraud conviction.
Chartraw’s schemes involved false representations of Crypto-Pal as a web-based cryptocurrency trading company and TDA Global as a supplier of jet fuel to airlines or a cryptocurrency trading platform. He communicated with investors through phone calls, text messages, email, and virtual meetings, using platforms like Microsoft Teams and Zoom. Despite not being a signatory on the Crypto-Pal business bank account, Chartraw accessed it to withdraw cash, make purchases, and transfer investor funds to his personal accounts.
The schemes ultimately collapsed, and Chartraw’s true identity was revealed to investors. A federal jury found him guilty of the fraud schemes after an eight-day trial. U.S. Attorney Eric Grant stated that the verdict sends a clear message that individuals who exploit the trust of others and steal through deception will be held accountable.
The case highlights the growing concern of cryptocurrency and investment fraud schemes in the United States. As emerging technologies continue to evolve, law enforcement agencies are working to combat these types of crimes and protect investors from financial and emotional harm.
📋 Key Facts
- Crime: Fraud & Financial Crimes
- Defendant: California
- Location: CA
- Source: DOJ Press Release
