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A Miami crew's leader, accused of defrauding banks in a cryptocurrency-related scheme in 2020, has pleaded guilty, according to an official notice released on Wednesday by the U.S. Department of Justice.
Esteban Cabrera Da Corte was one of three individuals arrested in relation to the alleged crime. He was accused of "participating in a scheme to steal millions of dollars’ worth of cryptocurrency and trick U.S. banks into refunding the millions used to purchase that cryptocurrency, in part by using personal identifying information stolen from other people."
The Justice Department has revealed that under the scheme, U.S. banks were involved in processing over $4 million in false reversals, while a cryptocurrency exchange incurred losses of around $3.5 million worth of digital assets.
Cabrera, 26, a resident of Miami, pled guilty to "one count of conspiracy to commit wire fraud," which comes with a 20-year prison sentence, and has agreed to pay restitution of $3.6 million – with an additional forfeiture of $1.2 million.
Source Coindesk
