A New York Metropolis man pled responsible this week to prices by the U.S. Legal professional for the Southern District of New York of wire fraud.
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The person, Chet Stojanovich, pled responsible to defrauding greater than a dozen victims of greater than $2 million by fraudulent misrepresentations that he would supply them with specialised cryptocurrency-mining computer systems and internet hosting providers. He stated these computer systems would supply the victims with a profitable stream of “hash energy” convertible into cryptocurrency.
Nevertheless, Stojanovich misappropriated his victims’ cash and failed to supply them with the Miners and Miner internet hosting providers that they had bought from him.
“Cryptocurrency mining has generated a lot media consideration and public pleasure previously few years, however new types of cash and funding may generate recent alternatives for old school fraud. Chet Stojanovich has pled responsible to utilizing these time-worn fraud strategies on this new monetary frontier as he stole tens of millions of {dollars} from victims who thought they had been investing in cryptocurrency mining,” Damian Williams, United States Legal professional for the Southern District of New York, stated.
From not less than 2019 till he was arrested in April 2022, Stojanovich managed varied firms, together with Chet Mining Co. He allegedly engaged in a scheme to defraud individuals who had been searching for to buy Miners and Miner internet hosting providers by which they anticipated to acquire “hash energy” convertible into cryptocurrency and cash. He defrauded these victims by falsely telling them that he would buy, and had bought, Miners on their behalf and that he would supply them with Miner internet hosting providers and had already obtained such Miner internet hosting providers for them.
Williams praised the Federal Bureau of Investigation for its assist on this case.
Stojanovich pled responsible to 1 rely of wire fraud, which carries a most penalty of 20 years in jail. Stojanovich is scheduled to be sentenced on March 2, 2023, earlier than United States District Decide Denise Cote, who presided over at the moment’s responsible plea listening to.
