{"id":1630,"date":"2022-01-28T09:04:00","date_gmt":"2022-01-28T14:04:00","guid":{"rendered":"https:\/\/www.silvermillerlaw.com\/?p=1630"},"modified":"2024-04-15T16:33:17","modified_gmt":"2024-04-15T16:33:17","slug":"feds-cryptsy-founder-stole-more-than-a-million-dollars-in-users-cryptocurrency","status":"publish","type":"news_posts","link":"https:\/\/www.silvermillerlaw.com\/press\/in-the-news\/feds-cryptsy-founder-stole-more-than-a-million-dollars-in-users-cryptocurrency\/","title":{"rendered":"Feds: Cryptsy Founder Stole More Than a Million Dollars in Users’ Cryptocurrency"},"content":{"rendered":"

Roughly six years after the founder of the now-defunct Bitcoin exchange company Cryptsy denied accusations that he had stolen\u00a0millions of dollars in cryptocurrency\u00a0<\/a>that suddenly vanished from users’ wallets,\u00a0an unsealed federal indictment has charged the former Delray Beach man\u00a0with doing precisely that.<\/p>\n

Paul “Big Vern” Vernon, 48, is charged with a slew of crimes tied to\u00a0the\u00a0disappearance of more than $5 million in Bitcoin and Litecoin<\/a>, according to the 17-page indictment that was filed in August 2019 and unsealed Wednesday. Federal authorities say Vernon orchestrated a “sophisticated theft scheme”\u00a0between 2013 and 2015,\u00a0in which he stole more than a million dollars worth of users\u2019 digital funds on the exchange, deposited them to his personal wallet, and then transferred the funds to his personal bank account, and later destroyed the evidence. He is also accused of evading federal income tax in 2014 and 2015.<\/p>\n

All but one of the 17 charges against Vernon carry maximum prison sentences of 20 years, according to the indictment, which has been embedded at the end of this article.<\/p>\n

Vernon, who was\u00a0deemed a fugitive<\/a>\u00a0in 2019,\u00a0did not respond to\u00a0New Times<\/i>‘ emailed request for comment.<\/p>\n

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