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A Connecticut court has sentenced Lyell Champagne Jr., a resident of the US state of Missouri, to three years in prison for fraud with cryptocurrencies and falsification of tax returns.
From March 2021 to April 2022, the man received credentials with the victims' bank accounts from his business partner Kristian Gupta, prosecutors say. According to her, Champaign Jr. used the personal identification data of these victims to create emails and accounts on a cryptocurrency exchange, where he then transferred money.
The defendants tried to involve bank insiders in the scheme, but the attempt was unsuccessful, the prosecutor's office decided. The Federal Bureau of Investigation (FBI) and the US Internal Revenue Service (IRS) reported that from 2018 to 2021, the defendants filed declarations for the non-existent company Shireberk International, receiving a tax deduction of $3,449,935.
Law enforcement agencies returned most of the stolen funds to the victims. In June, Champaign Jr. pleaded guilty to conspiracy to commit bank fraud to invest in cryptocurrencies and provide false tax information. The court punished him with three years in federal prison. Gupta's accomplice pleaded guilty back in April. The court is expected to sentence him on September 19.
From March 2021 to April 2022, the man received credentials with the victims' bank accounts from his business partner Kristian Gupta, prosecutors say. According to her, Champaign Jr. used the personal identification data of these victims to create emails and accounts on a cryptocurrency exchange, where he then transferred money.
The defendants tried to involve bank insiders in the scheme, but the attempt was unsuccessful, the prosecutor's office decided. The Federal Bureau of Investigation (FBI) and the US Internal Revenue Service (IRS) reported that from 2018 to 2021, the defendants filed declarations for the non-existent company Shireberk International, receiving a tax deduction of $3,449,935.
Law enforcement agencies returned most of the stolen funds to the victims. In June, Champaign Jr. pleaded guilty to conspiracy to commit bank fraud to invest in cryptocurrencies and provide false tax information. The court punished him with three years in federal prison. Gupta's accomplice pleaded guilty back in April. The court is expected to sentence him on September 19.
