Connecticut man admits losing $1.16M of investor crypto funds
Elmin Redzepagic, of Wolcott, Conn., pleaded guilty after telling investors that fake profits required gas fees to withdraw.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
What happened
Elmin Redzepagic, a Wolcott, Connecticut man, pleaded guilty to taking part in a cryptocurrency fraud scheme, according to U.S. Attorney for the District of Connecticut David Sullivan. Redzepagic took more than a million dollars from investors and lost it gambling online, including on Stake.com. He told investors they had earned a substantial profit but had to pay additional gas fees to withdraw it.
Why it matters
The scheme involved about $1.16 million in investor money that was lost gambling online.
Timeline
- Oct 19, 5:03 PM ET: Elmin Redzepagic pleaded guilty to taking part in the cryptocurrency fraud scheme.
- Oct 20, 9:20 AM ET: Officials said Redzepagic told investors they owed additional gas fees before they could withdraw supposed profits.
Coverage
- Wolcott man pleads guilty in $1.16M cryptocurrency fraud scheme (hartfordbusiness.com)
- CT man admits to scamming cryptocurrency investors out of $1.1M for online gambling funds (courant.com)
- CT man admits gambling away $1.16M of investor money in crypto scheme (Josh LaBella)
- Wolcott man pleads guilty to $1M cryptocurrency fraud scheme (Gino De Angelis)
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