Years after the initial coin offering craze, jail sentences are starting to be handed down to criminals who conned investors out of millions 👀
Two men from California are waking up in federal prison after being sentenced for duping victims out of $1.9 million — and "lining their own pockets" with the proceeds.
Both men had founded Dropil, which promised to provide and manage crypto investments for users — including a new digital asset called DROP. But neither men, not their business, had undergone the necessary registrations with the U.S. Securities and Exchange Commission.
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