ChainCatcher reports that, according to market sources, 24-year-old Connecticut man Elmin Redzepagic faces up to 375 years in prison for allegedly embezzling nearly $1 million in cryptocurrency investor funds to gamble on the Stake platform.
Prosecutors accuse him of impersonating a cryptocurrency investment expert working under the name “The Chef,” promising clients high returns but actually using the funds for gambling. Last month, a federal grand jury indicted him on 21 charges, including seven counts of wire fraud, eleven counts of international money laundering, and three counts of making false statements to IRS criminal investigators. This Thursday, Redzepagic pleaded not guilty to all charges and was released on a $500,000 bond.
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