• 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

La Culex CULEX Emerges as a Meme Challenger

chest

La Culex CULEX is rapidly gaining recognition in the meme coin market, thanks to its quirky mascot and engaging community-driven campaigns.

user avatarTenzin Dorje

Stellar XLM Powers Global Transfers with Accessibility

chest

Stellar XLM is focused on providing fast and low-cost global transfers, enhancing financial inclusion and bridging traditional finance with blockchain technology.

user avatarAisha Farooq

PEPE and BONK Show Mixed Performance Amid Market Shifts

chest

PEPE and BONK show mixed performance with PEPE declining by 7.71% and BONK rising by 5.17% amid market fluctuations.

user avatarBayarjavkhlan Ganbaatar

Market Reactions to the Honest Act and Its Implications

chest

The market and political reactions to the Honest Act have been mixed, with support and criticism emerging.

user avatarMohamed Farouk

Solana's Future at Stake Amid Current Struggles

chest

The current struggles of Solana present a critical stress test for the network's long-term value proposition.

user avatarElias Mukuru

Solana's Memecoin Activity Sees Dramatic Decline

chest

Solana's memecoin activity has dramatically decreased, with a 67% drop in trading volume and engagement since January, impacting network revenue.

user avatarDiego Alvarez

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.