A 45-year-old Houston man was sentenced to 51 months in federal prison for running a sophisticated crypto-Ponzi scheme.
Samuel Ayala-Ibarra, 45, of Houston, was ordered to serve 51 months in federal prison to be immediately followed by three years of supervised release.
Between July and November 2017, Ayala-Ibarra operated JASTBITME, a Houston-based company that falsely promised high returns through cryptocurrency investments.
Ayala-Ibarra told clients their money would be invested in cryptocurrency, but he instead used the funds for personal gain and to repay earlier investors.
He also paid others to recruit new clients, creating a fake system where clients were shown fabricated growth and returns to convince them to reinvest.
The scheme resulted in numerous victims who never received their original investments or promised returns.
Ayala-Ibarra was found guilty on August 4, and his sentence was handed down by Senior U.S. District Judge Kenneth M. Hoyt.
The Secret Service conducted the investigation, and Assistant U.S. Attorneys Rodolfo Ramirez and Elizabeth Wyman prosecuted the case.
Ayala-Ibarra has been and will remain in custody pending transfer to a Federal Bureau of Prisons facility.
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Key Facts
- State: Texas
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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