Thomas John Sfraga of Brooklyn received a 45-month prison sentence for wire fraud after pleading guilty to defrauding investors in both real estate and cryptocurrency schemes. He swindled at least 17 victims from various regions, convincing them to invest in fake business ventures, including renovating homes and a bogus cryptocurrency project. He presented himself as a seasoned entrepreneur, held connections in the crypto space, and even used a fictional company name reminiscent of 'Seinfeld.' In addition to prison time, he was ordered to repay over $1.3 million to his victims.
"Sfraga callously stole from friends, next-door neighbors, and the parents of children who played on teams with his own children, as well as from individual cryptocurrency investors."
"There was nothing funny about his use of a Seinfeldian company, Vandelay Industries, to carry out this fraud, which caused severe financial and emotional harm to the hard-working men and women who trusted him."
Collection
[
|
...
]