On July 11, according to The Block, convicted crypto fraud criminal Nicholas Truglia was sentenced to an additional 12 years in prison for failing to pay compensation related to a $20 million crypto fraud.
Truglia was previously sentenced to 18 months in prison in December 2022. According to the U.S. Department of Justice report, he participated in a fraud scheme that illegally obtained access to a $20 million crypto wallet by replacing the victim's phone number and SIM card. Truglia assisted in emptying the victim's funds and converting assets to Bitcoin.
He pleaded guilty to conspiracy to commit telecommunications fraud and had already served 12 months of his 18-month sentence. The hearing showed that he agreed to pay over $20 million in compensation to the victims.
