Former rugby player sentenced for $900K crypto mining Ponzi
Former rugby player Shane Donovan Moore was sentenced to 2.5 years in US federal prison for running a $900,000 crypto mining Ponzi scheme.
Former rugby player Shane Donovan Moore was sentenced to two-and-a-half years in a US federal prison for defrauding more than 40 investors out of $900,000 in a crypto mining Ponzi scheme.
According to a Thursday Department of Justice announcement, Moore operated Quantum Donovan LLC from January 2021 to October 2022. Through the company, he reportedly defrauded over 40 investors out of more than $900,000.
While promoting the scheme, Moore claimed that the funds raised would be spent on cryptocurrency mining hardware. He promised investors daily returns of 1%.
“Mr. Moore used the newness of cryptocurrency to commit an age-old fraud — a Ponzi scheme,” said Acting US Attorney Teal Luthy Miller.
Related: Pig butchering scams stole $5.5B from crypto investors in 2024 — Cyvers
The end of a long battle
US Justice Department officials charged Moore with fraud as far back as March 2024. Authorities said he leveraged connections “from his rugby activities” to find investors.#BinanceHODLerERA #USCryptoWeek #AltcoinSeasonLoading
