A Certain Crypto KOL Sentenced to One Year for $3.5 Million Cloud Mining Fraud

According to a report by Golden Finance and Cryptonews, crypto KOL Charles O. Parks III has been sentenced to one year and one day in prison for perpetrating a large-scale cloud computing mining fraud. Between January and August 2021, Parks defrauded cloud service providers under the guise of a fake company, illegally mining to gain nearly $1 million, involving Ethereum (ETH), Litecoin (LTC), and Monero (XMR). Parks had previously pleaded guilty and was ordered to forfeit $500,000 and a Mercedes-Benz. Prosecutors stated that Parks converted the proceeds from mining into cash through exchanges, NFT markets, and payment processors for luxury consumption. $BTC $ETH #ETH质押退出动态观察