• 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

Analyst Predicts XRP Price Bottom: Here's the Price Target

chest

CryptoBull2020 predicts XRP may find a bottom at 155 during the current market correction, emphasizing it's not a bear market. He suggests Bitcoin could bottom at 75,500 and Ethereum at 2,100, advising investors to stay strong and avoid panic selling.

user avatarDavid Robinson

Market Sentiment Shifts as Fear Levels Approach a Turning Point

chest

The Crypto Fear and Greed Index indicates a shift from extreme fear to a more neutral sentiment in the cryptocurrency market.

user avatarMaria Gutierrez

Charlie Charity Initiative: Real Help, Real Impact

chest

The Charlie community is making a difference through its charity initiative, contributing directly to animal shelters and rescue missions around the world.

user avatarJacob Williams

Charlie: The Unique Meme Coin with a Mission

chest

Charlie: The Unique Meme Coin with a Mission

user avatarAndrew Smith

Macroeconomic Indicators Suggest Potential Liquidity Infusion for Bitcoin

chest

Macroeconomic indicators, particularly the NFCI, are trending downward, historically leading Bitcoin rallies.

user avatarZainab Kamara

The Evolution of DYOR in Crypto Culture

chest

The phrase DYOR has transformed from a cautionary advice to a shield for bad actors in the crypto market.

user avatarSon Min-ho

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.