Table of Content

Ex-Deutsche Bank investment banker Rashawn Russell pleaded guilty to crypto fraud this week. 

On Tuesday, former Deutsche Bank investment banker Rashawn Russell pleaded guilty to misappropriating funds from investors after being charged in April.

In a press release, the US Department said Russell pleaded to participating in a scheme to defraud clients of the R³ Crypto Fund – a supposed crypto investment fund operated by Russell. Russell further pleaded guilty to his involvement in an identity-theft scheme “in which he fraudulently obtained credit cards and other access devices in the names of third parties.”

Former Investment Banker and Registered Broker Pleads Guilty to Cryptocurrency Investment Fraud Scheme https://t.co/rbIlwpAEGt (Announced with @TheJusticeDept and @USPISpressroom)

— US Attorney EDNY (@EDNYnews) September 19, 2023

Up to 30 Years in Prison

Russell’s plea before US Magistrate Judge Sanket J. Bulsara could see him sentenced to up to 30 years in prison. In a plea agreement, the former investment banker must pay over $1.5 million in restitution. 

US Attorney for the Eastern District of New York, Breon Peace, said:

“Russell leveraged investor interest in cryptocurrency markets to perpetrate a scheme to defraud clients who trusted him. The swift convic

Go to Source to See Full Article
Author: Jana Serfontein

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details