In a rather theatrical display of justice, a Virginia federal judge, with all the gravitas of a Shakespearean actor, has sentenced a 61-year-old maestro of deception-the CEO of Praetorian Group International-to a lengthy 20-year sojourn in the clink. This modern-day Icarus had the audacity to orchestrate a grandiloquent $200 million Bitcoin Ponzi scheme, which fluttered about from the waning days of 2019 until the curtain call in 2021.
With all the charm of a snake oil salesman, he enticed unsuspecting investors with beguiling promises of daily returns ranging from a delightful 0.5% to a tantalizing 3%. Alas, dear reader, it was but smoke and mirrors, as no actual trading ever graced his fictitious online portal. The prosecutor’s narrative was rich with tales of how our protagonist squandered the fruits of his deceit on ostentatious luxury homes in Las Vegas and Los Angeles, a fleet of high-end automobiles, and designer goods that could make even the most seasoned fashionista swoon.
To add a dash of poetic justice, the court decreed restitution of a staggering $62.7 million, alongside the forfeiture of $12.2 million in cash and property, as the victims-those poor souls led astray-now embark on their quest for compensation. Truly, it seems money can’t buy happiness, but it can certainly fund an extravagant lifestyle, at least until the long arm of the law comes calling!
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2026-02-13 16:56