Texas man gets 40-month sentence for crypto fraud, laundering

A man in Texas has been sentenced to 40 months in prison for a multi-million dollar cryptocurrency investment fraud and money laundering scheme, the U.S. Attorney's Office for the Eastern District of Texas announced. He was also ordered to forfeit $2.3 million and pay $2.8 million in restitution. The man was charged with approaching victims, building their trust, and then proposing cryptocurrency investments to defraud them of their funds before laundering the proceeds.