Key Figure Behind $20 Million Meta-1 Coin Fraud Receives 23 Years
Cointelegraph
Robert Dunlap was sentenced to 23 years for a $20 million Meta-1 Coin crypto fraud, misleading investors about assets.Summary
Robert Dunlap, a key figure in the Meta-1 Coin cryptocurrency scam, has been sentenced to 23 years in prison by a US judge. The project defrauded nearly 1,000 investors of $20 million. Dunlap, serving as a trustee, made false claims that the Meta-1 Coin was backed by a $1 billion art collection, including works by Picasso and Van Gogh, and $44 billion in gold. He was convicted of mail fraud and conspired to market and sell the fictional token through a trust from 2018 to 2023. The SEC intervened in 2020, ordering an asset freeze. Instead of being distributed, investor funds were used for personal expenses and luxury items. Prosecutors described Dunlap as "unrepentant."
(Source：Cointelegraph)