#CryptoScamAlert In addition to the prison sentence, District Judge Eric Komitee ordered the confiscation of $500,000 from Parks and a luxury Mercedes Benz car purchased with illegally obtained income from this scheme. The amount of restitution will be determined later.
According to the prosecution, Parks abused the resources of two well-known cloud computing service providers for over $3.5 million, thereby mining cryptocurrencies ETH, LTC, and XMR totaling $1 million. Parks committed these illegal actions from January to August 2021.
The perpetrator used various names and email addresses with domains controlled by his legal entities MultiMillionaire and CP3O to register multiple accounts with service providers to access their computing power and data storage for which he did not pay.
Parks also fraudulently sought privileges and benefits from service providers, ignoring questions about suspicious data usage and unpaid bills. For example, he informed one provider that he was using computing resources to create an international technology training company and develop business strategies, which required him to serve 10,000 students simultaneously.
In fact, no company or students ever existed, explained the U.S. Department of Justice. In addition, Parks boasted about his online income, positioning himself as a crypto influencer. In September 2022, he published a video on his YouTube channel where he told his subscribers about the 'multimillionaire mindset.'
Parks was charged with fraud using electronic communications, money laundering, and engaging in illegal monetary transactions. In April 2024, he was arrested by Nebraska police, and in December he pleaded guilty to fraud.
