CluCoin Founder Guilty of Stealing $1.14 Million From Investors

IconCryptoNewsTerminal Staff22 Aug, 2024

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CluCoin Founder Guilty of Stealing $1.14 Million From Investors

CluCoin Founder Pleads Guilty to Stealing $1.14 Million From Investors Austin Michael Taylor, the founder of the cryptocurrency project CluCoin, pleaded guilty to stealing $1.14 million from investors, according to the US Department of Justice. The Justice Department said that Taylor "raised the investment funds through the issuance and promotion of a digital token called CLU, which he then transferred to his personal accounts and gambled away at online casinos." Taylor faces a maximum sentence of 20 years in prison.