Former rugby player sentenced for $900,000 crypto Ponzi
Former rugby player Shane Donovan Moore was sentenced to two-and-a-half years in a US federal prison for defrauding more than 40 investors out of $900,000 in a crypto mining Ponzi scheme.
According to a Thursday Department of Justice announcement, Moore operated Quantum Donovan LLC from January 2021 to October 2022. Through the company, he reportedly defrauded over 40 investors out of more than $900,000.
While promoting the scheme, Moore claimed that the funds raised would be spent on cryptocurrency mining hardware. He promised investors daily returns of 1%.
“Mr. Moore used the newness of cryptocurrency to commit an age-old fraud — a Ponzi scheme,” said Acting US Attorney Teal Luthy Miller.
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