• 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

Bank of Japan Plans Gradual Interest Rate Hikes

chest

The Bank of Japan, led by Governor Kazuo Ueda, is preparing to implement gradual interest rate increases, with a significant rise anticipated from 0.5% to 0.75% in December.

user avatarMaria Gutierrez

Dow Jones and S&P 500 Reach Record Highs Amid Mixed Market Sentiment

chest

On Thursday, the Dow Jones Industrial Average and the S&P 500 Index reached record highs, while the Nasdaq experienced a decline due to Oracle's disappointing earnings report and spending outlook.

user avatarDavid Robinson

Bitcoin Experiences Wide Range Oscillation as Standard Chartered Lowers Target Price

chest

Bitcoin fluctuated between $89K and $93K, with Standard Chartered reducing its target price for Bitcoin amid market consolidation.

user avatarAndrew Smith

Bhutan Announces Launch of Sovereign Gold-Backed Digital Token

chest

Bhutan has launched a new digital asset, TER, a sovereign gold-backed token aimed at modernizing its financial system.

user avatarJacob Williams

Market Power Concentrated by Whale Activity on Hyperliquid

chest

Market power is concentrated by the 1011 Insider Whale on Hyperliquid, holding 794 of the total open interest since December 7, which may impact trading patterns and attract regulatory scrutiny.

user avatarZainab Kamara

BCGame Dominates the Crypto Gambling Space

chest

BCGame has been a leader in the crypto gambling industry since 2017, offering support for over 150 cryptocurrencies and a library of 8,000 games, attracting over 9 million users.

user avatarNguyen Van Long

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.