Miami – Austin Michael Taylor, 41, founder of Miami’s cryptocurrency token project Crewcoin, was sentenced to 27 months in prison and released under three years of supervision, repayment and forfeiture assets. He was ordered to forfeit for $1.14 billion. The sentence comes after the defendant pleaded guilty to fraud in August 2024.
Taylor, 41, is the founder of Clucoin Clucoin and owner of Clu LLC, according to the US Lawyer’s Office for the Southern District of Florida in Sykesville, Maryland. We handled Clucoin operations.
“Taylor has used his considerable social media to generate interest in the digital tokens he calls ‘CLU’. Taylor has created interest in CLU’s first coin offering (ICO). This is a capital raising event in which an entity offers investors unique digital tokens in exchange for a more established crypto or fiat currency. Taylor created a “white paper” for Clucoin. It was intended to educate investors and tempt them to participate in ICOs. After raising investor funds, Taylor successfully launched Clucoin’s ICO on May 19, 2021. Taylor then shifted Clucoin’s focus to other projects he had devised. It is the development of computer games, the development of the Metaverse platform.
The US law firm also said that Taylor organized an event called “Nftcon: Into the Metaverse” and paid for the event that took place at a hotel in Miami on April 4th and 5th, 2022. project. Shortly after the meeting, in May 2022, Taylor acquired the ability to withdraw from the cryptocurrency address where some of the funds of CLU investors were automatically flowing. From May until December 2022, Taylor sent around $1.14 million in investor funds in cryptocurrency exchanges to personal accounts, then used the funds at multiple online casinos, losing these investor funds to gambling. I did.
Special proxy agents, who will be responsible for Attorney Hayden P. Ovillund of the Southern District of Florida and FBI Justin E. Fleck of the Miami Field Office, have announced the verdict imposed by US District Judge Jacqueline Betera.
The FBI Miami and the Washington Field Office investigated the incident. US lawyer Manolo Leboso has indicted the case. US lawyer Aide Emily Stone handles the forfeiture of assets.
The identified victims were notified via NFT. If you have invested in CLU, believe you are a victim, and/or receive NFT, please visit https://www.fbi.gov/clucoininvestors to provide relevant information to the FBI.
