⏱ 2 min read
A slick Texas con man has been sentenced to 23 years in prison for running a brazen cryptocurrency scam that swindled nearly 1,000 investors out of $20 million in Chicago.
Robert Dunlap, 55, of Houston, claimed to operate a cryptocurrency business that sold a digital asset called ‘Meta-1 Coin’ through a fake trust. He made outlandish claims about the coin being backed by $1 billion in art, $44 billion in gold, and even produced fake accounting documents to deceive investors.
Dunlap’s victims lost everything – their life savings, their trust, and in some cases, their entire livelihoods. Many were left reeling after pouring their hard-earned cash into the fake investment scheme.
But Dunlap’s luck ran out when a federal jury in the Northern District of Illinois convicted him of mail fraud last year. On Tuesday, U.S. District Judge LaShonda A. Hunt handed down the 23-year sentence, ordering Dunlap to pay restitution to his victims.
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📋 Key Facts
- Crime: White Collar Crime
- Defendant: Illinois
- Location: IL
- Source: DOJ Press Release
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