PANews, July 12 - According to Techinasia, U.S. District Judge Alvin Hellerstein increased Nicholas Truglia's prison sentence to 12 years for failing to comply with a $20.4 million restitution agreement to victims. Truglia pleaded guilty in 2021, admitting to his involvement in the fraud case against Transform Group CEO Michael Terpin. The fraud involved tricking telecom employees into transferring Terpin's phone number to a hacker-controlled SIM card, thereby gaining access to his cryptocurrency accounts. Truglia was responsible for converting the stolen funds into Bitcoin.
