{"id":610996,"date":"2023-01-31T22:56:49","date_gmt":"2023-01-31T23:10:31","guid":{"rendered":"https:\/\/omni48.com\/?p=610996"},"modified":"2023-02-01T03:18:24","modified_gmt":"2023-02-01T03:18:24","slug":"my-big-coin-cryptocurrency-firm-founder-gets-8-years-in-prison-for-fraud","status":"publish","type":"post","link":"https:\/\/omni48.com\/news\/my-big-coin-cryptocurrency-firm-founder-gets-8-years-in-prison-for-fraud","title":{"rendered":"My Big Coin cryptocurrency firm founder gets 8 years in prison for fraud"},"content":{"rendered":"<p>BOSTON, Jan 31 (Reuters) &#8211; The founder of a defunct cryptocurrency business was sentenced on Tuesday to more than eight years in prison for defrauding investors and customers out of millions of dollars by marketing a virtual currency called My Big Coin with lies and half-truths. Federal prosecutors had urged U.S. District Judge Denise Casper in Boston to impose a 13-year prison term on Randall Crater to send a message to others in the first sentencing of a cryptocurrency company founder for a marketing fraud. While Casper concluded that that request went too far, she rejected Crater&#8217;s contention that a 30-month prison term was sufficient to punish him for his false claims, including that My Big Coin was a real cryptocurrency backed by gold. &#8220;Certainly cryptocurrency is a newer enterprise, a newer market, a 21st Century market,&#8221; Casper said. &#8220;But the scheme at its core was age-old, and that was fraud.&#8221; Crater, who was sentenced to 100 months in total<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BOSTON, Jan 31 (Reuters) &#8211; The founder of a defunct cryptocurrency business was sentenced on Tuesday to more than eight years in prison for defrauding investors and customers out of<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[313,1,10],"tags":[],"class_list":["post-610996","post","type-post","status-publish","format-standard","hentry","category-crypto","category-news","category-public-safety"],"acf":[],"_links":{"self":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/610996","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/comments?post=610996"}],"version-history":[{"count":0,"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/610996\/revisions"}],"wp:attachment":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/media?parent=610996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/categories?post=610996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/tags?post=610996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}