Crypto Scammer’s Sentence Jumps from 18 Months to 12 Years in $20M Fraud Case
2025-07-11 03:39:02
Main Idea
Nicholas Truglia, a crypto scammer involved in a $20M fraud, had his sentence increased from 18 months to 12 years, highlighting the U.S. judiciary's stringent stance on crypto-related crimes.
Key Points
1. Nicholas Truglia, 27, was resentenced to 12 years in prison for his role in a $20.4 million crypto fraud scheme involving SIM-swapping.
2. Truglia's initial 18-month sentence was significantly increased after he failed to repay restitution, with the judge citing his lavish lifestyle despite having no job.
3. The fraud involved hijacking a victim's phone number to drain crypto accounts, resulting in a $24 million loss for blockchain investor Michael Terpin.
4. Truglia's legal team argued the new sentence was unlawful, calling it an 'extraordinary abuse of discretion,' and plans to appeal.
5. The case is part of a broader trend in the U.S. where crypto crimes are met with severe penalties, including other recent cases involving unlicensed Bitcoin businesses and funding terrorism.
Description
A man convicted in a $22 million crypto fraud scheme saw his prison sentence sharply increased after failing to repay the money he owed his victim. Nicholas Truglia, 27, who was initially sentenced to 18 months, received a new 12-year sentence on Thursday in a New York federal court. U.S. District Judge Alvin Hellerstein ordered the increase after ruling that Truglia had willfully ignored his obligation to pay back nearly $20.4 million in restitution. “You paid not a cent, not one cent,” Judge H...
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