Nicholas Truglia, a convicted scammer, has been sentenced to 12 years in prison for evading the repayment of over $20 million to his victim, Michael Terpin.
Overview of Nicholas Truglia's Case
Truglia was initially sentenced to 18 months in prison in 2022 for a SIM-swapping scheme. However, at a hearing on July 2, his sentence was extended after the court found he had evaded his restitution obligations. Judge Alvin Hellerstein noted that Truglia "demonstrated a willingness to repay his victim the entire amount stolen" but failed to follow through.
SIM-Swapping Scheme and Its Consequences
In 2018, Truglia and his associates used SIM-swapping to transfer Terpin’s phone number to another SIM card, allowing them to receive authentication codes and bypass security measures. This resulted in the theft of around $24 million in cryptocurrency. That same year, Terpin sued AT&T for negligence over the security of his phone number during the theft.
Judicial Consequences for Restitution Evasion
The recent ruling also includes three years of supervised release following Truglia’s prison term. This case highlights the court’s strict stance on defendants who fail to comply with restitution obligations, especially in high-value cryptocurrency crimes.
Truglia's extended prison sentence reflects the justice system's severity towards cryptocurrency fraudsters, sending a message that evading repayment to victims can lead to harsher penalties.
