• 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

2 years 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

Yoroi Wallet Implements Strict Editorial Policy

chest

Yoroi Wallet has introduced a new editorial policy that focuses on accuracy, relevance, and impartiality to enhance the quality and trustworthiness of the information provided on its platform.

user avatarKenji Takahashi

Bitcoin BIPs GitHub Repository Receives Update

chest

The Bitcoin BIPs GitHub repository has been updated with new information.

user avatarMaria Fernandez

New Editorial Guidelines Focus on Improving Content Quality.

chest

A strict editorial policy has been established to ensure accuracy, relevance, and impartiality in content.

user avatarGustavo Mendoza

Binance Implements Strict Editorial Policy

chest

Binance has introduced a new editorial policy that focuses on accuracy, relevance, and impartiality to enhance the quality and trustworthiness of its content.

user avatarRajesh Kumar

Taiwan Enacts Comprehensive Crypto Regulation

chest

Taiwan has passed the Virtual Asset Service Act, establishing full financial supervision over the crypto sector.

user avatarMiguel Rodriguez

Goliath Ventures CEO Christopher Delgado Admits to Fraud Scheme

chest

Goliath Ventures CEO Christopher Delgado pleads guilty to fraud, admitting to taking hundreds of millions from investors and spending it on luxury items.

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.