Crypto scammer Nicholas Truglia sentenced to 12 years in prison for failing to pay $20m restitution
2025-07-11 07:21:05
Main Idea
Nicholas Truglia's prison sentence was increased from 18 months to 12 years due to his failure to pay $20 million in restitution and violating his terms by moving stolen funds and converting them to Bitcoin.
Key Points
1. Nicholas Truglia's initial 18-month sentence was revised to 12 years by a New York federal judge on July 10 for failing to pay $20 million in restitution to victim Michael Terpin.
2. Truglia violated his terms by moving stolen funds and converting them to Bitcoin, keeping a portion for himself.
3. A video of Truglia speaking in a masked voice about his actions contributed to the judge's decision to extend his sentence.
4. Truglia was initially released after serving 12 months but was arrested again in May 2023 for violating terms and purchasing luxury goods.
5. Despite a contempt order, Truglia was released in November 2024 after approximately $673,000 from his cuts was recovered.
Description
Hacker Nicholas Truglia’s 18-month prison sentence has been upgraded to 12 years after he failed to pay $20 million in restitution for the victim of a SIM-swap he conducted back in 2018. According to a report by the Inner City Press, a New York federal judge revised Truglia’s initial 18-month sentence to 12 years on July 10 after he failed to pay the mandated $20 million in restitution to his victim, crypto investor and promoter Michael Terpin. The new sentence exceeds federal guidelines by a si...
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