Thomas John Sfraga, also known as “TJ Stone”, admitted to wire fraud charges in a Brooklyn court for deceiving more than a dozen victims of over $1.3 million.<\/p>\n
According to the US Department of Justice, between 2019 and 2022, Sfraga falsely portrayed himself as the owner of various businesses and a seasoned entrepreneur, luring victims into investing in non-existent ventures.<\/p>\n
He duped victims, primarily from Brooklyn, Staten Island, and Long Island, into providing loans or investments in fraudulent projects, including a fake cryptocurrency virtual wallet promising unrealistically high returns of up to 60% in three months.<\/p>\n
US Attorney Breon Peace condemned Sfraga’s actions, emphasizing the need to hold fraudsters accountable and bring justice to victims.<\/p>\n
Sfraga managed to convince a victim to lend him $100,000 in cash for a phony construction venture. However, he diverted the funds for personal use, paying off previous victims and associates.<\/p>\n
Having pleaded guilty to wire fraud charges, Sfraga faces a potential 20-year prison sentence and must repay his victims over $1.33 million.<\/p>\n
The guilty plea was announced by US Attorney Breon Peace and James Smith, Assistant Director-in-Charge of the FBI’s New York Field Office.<\/p>\n
<\/p>\n
The cryptocurrency market has recently experienced significant growth, with major digital assets observing price surges.<\/p>\n
Bitcoin (BTC) has surpassed $67,000 for the first time since late April, marking a nearly 10% increase in the past week. Ethereum (ETH) has notably risen by 5.5% in the last 24 hours, reaching $3,111.<\/p>\n
The total cryptocurrency market capitalization has also surged by 3% in the past day, now standing at $2.37 trillion, signaling a bullish sentiment prevailing in the digital asset ecosystem.<\/p>\n
Featured image from Shutterstock, chart from TradingView.com<\/p>\n","protected":false},"excerpt":{"rendered":"
Thomas John Sfraga, also known as “TJ Stone”, admitted to wire fraud charges in a Brooklyn court for deceiving more than a dozen victims of over $1.3 million. Fraudulent Representation Unveiled According to the US Department of Justice, between 2019 and 2022, Sfraga falsely portrayed himself as the owner of various businesses and a seasoned […]<\/p>\n","protected":false},"author":1,"featured_media":11919,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"T.J. Stone Guilty of $1M Wire Fraud in Crypto Scheme - Bitrabo","description":"Thomas John Sfraga, also known as \"TJ Stone\", admitted to wire fraud charges in a Brooklyn court for deceiving more than a dozen victims of over $1.3 million. F"},"footnotes":""},"categories":[316],"tags":[504,696,794,1113,4215,2549,4214,4213,3851],"class_list":["post-11918","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-crypto","tag-fraud","tag-guilty","tag-influencer","tag-pleads","tag-scheme","tag-stone","tag-t-j","tag-wire"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/11918","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=11918"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/11918\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/11919"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=11918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=11918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=11918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}