A man in Utah, USA, has been sentenced to three years in prison for a cryptocurrency cash fraud case.

According to Mars Finance, on January 16th, the U.S. Department of Justice announced that a man from Utah was sentenced to three years in federal prison for involvement in cryptocurrency-related fraud. Brian Garry Sewell, 54, from Washington County, Utah, was convicted of illegally operating a cash-for-cryptocurrency business and defrauding investors of approximately $2.9 million. After pleading guilty, he was sentenced to 36 months in prison, followed by three years of supervised release. The court also ordered him to pay over $3.8 million in restitution to compensate victims and the U.S. Department of Homeland Security. Prosecutors disclosed that between December 2017 and April 2024, Sewell deceived at least 17 investors by fabricating his experience, educational background, and promises of high returns. The head of the FBI's Salt Lake City field office stated that Sewell profited through false promises, causing significant financial losses to numerous individuals and families. The investigation began in 2020 and lasted nearly five years before its conclusion. Prosecutors allege that Sewell's illicit cash-for-currency operations transferred more than $5.4 million through Rockwell Capital Management, which it controlled, forming a key basis for subsequent criminal charges.