Jon Barry Thompson is expected, the operator of a fraudulent cryptocurrency management service accused of Anyone who cheated two customers for USD 7 million pleads guilty;; The prosecutor plans to end the trial in September.
“”The parties hope for a provision in this regard and respectfully request the court to set a control date in September 2020. for entering this provision, “wrote the prosecutor in a letter to the court.
In April, Thompson’s lawyer Peggy Cross-Goldenberg stated this Both sides had made “significant progress” in deployment.
Four fraud cases
Thompson was charged in September 2019 with four allegations of fraud related to the provision of crypto custody services. through his company Volantis Market Making. After his arrest in Pennsylvania, Thompson was released on a $ 500,000 bail.
Prosecutors allege that Thompson received $ 3 million to fund Bitcoin (BTC) purchases on behalf of a company. in June and July 2018. Thompson sent the funds to a third party without first receiving a BTC, resulting in an apparent loss of funds.
After the company was allegedly lied to about the status of the transaction, Thompson convinced a second company to send $ 4 million to buy cryptocurrenciesThis also resulted in a significant portion of the funds being sent to third parties without the customer receiving BTC.
Thompson faces two fraud chargeswith a prison sentence of up to 10 years each, and two cases of wire fraudwith a maximum sentence of up to 20 years in prison.
Thompson can face up to 60 years in prison
Volantis is also facing civil lawsuits filed by the United States Commodity Futures Trading Commission (CFTC).While Thompson is also facing a lawsuit by the Irish company Symphony FS, which is believed to have handed over $ 4 million to Volantis for custody services.