• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

CluCoin Founder Admits to Defrauding Investors of $1.14 Million

user avatar

by Giorgi Kostiuk

a year ago

  1. Creation of CluCoin and Attracting Investors
  2. NFTCon and Further Projects
  3. Fraud and Legal Proceedings


    4. Austin Michael Taylor, the man behind CluCoin and the CLU token, admitted to pocketing $1.14 million from investors. The money was spent on online gambling.

    Creation of CluCoin and Attracting Investors

    Taylor launched CluCoin with a significant social media following and hyped up the CLU token. During the ICO on May 19, 2021, he drew substantial investment by claiming the project had a charitable focus.

    NFTCon and Further Projects

    After the ICO, Taylor promoted new ventures like NFTs, a video game, and a metaverse platform. In April 2022, he hosted 'NFTCon: Into the Metaverse' in Miami, continuing to gather investment for CLU and related projects.

    Fraud and Legal Proceedings

    By May 2022, Taylor had figured out a way to transfer investor funds to his personal account and spent $1.14 million on online gambling. His sentencing hearing is set for October 31, with a potential prison sentence of up to 20 years.

    Austin Michael Taylor has admitted to defrauding CluCoin investors. He faces up to 20 years in prison, with the final sentence to be determined on October 31.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Michael Hassett Emerges as Top Contender for Federal Reserve Chair

chest

Michael Hassett is currently the frontrunner to become the next Federal Reserve Chair with a 61% probability according to Polymarket.

user avatarKenji Takahashi

Cryptocurrency Market Remains Unaffected by Fed Chair Speculation

chest

Reports indicate limited reaction in the cryptocurrency market amid speculation about the Federal Reserve Chair replacement.

user avatarMaria Fernandez

Flutter Entertainment Launches FanDuel Predicts in Five States

chest

Flutter Entertainment has launched its prediction market app, FanDuel Predicts, in five states in partnership with CME Group.

user avatarGustavo Mendoza

US Eliminates Tariffs on Brazilian Coffee to Lower Consumer Prices

chest

US eliminates tariffs on Brazilian coffee imports to lower consumer prices.

user avatarRajesh Kumar

Binance Launches Double the Joy Referral Event Offering 1 Million in Token Rewards

chest

Binance is launching a referral event called Double the Joy, offering 1 million in token rewards to enhance user engagement during the holiday season.

user avatarMiguel Rodriguez

BC Card Completes Pilot for Stablecoin Payments in South Korea

chest

BC Card has completed a pilot project for stablecoin payments in South Korea, allowing foreign visitors to use a digital prepaid card for transactions.

user avatarLuis Flores

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.