An 85-year-old disbarred Beverly Hills attorney, David Kagel, was ordered to pay $14 million for his involvement in a $9.5 million crypto Ponzi scheme. Kagel admitted to conspiracy to commit fraud, deceiving investors with fake security letters and false escrow claims. Two others await trial for similar schemes.
An 86-year-old former attorney, David Kagel, has been sentenced to probation and ordered to pay $14 million in restitution for his role in a crypto Ponzi scheme. Kagel pled guilty to conspiracy to commit commodity fraud, defrauding investors out of millions.
Former attorney David Kagel sentenced for a $14 million Bitcoin Ponzi scheme, highlighting concerns over crypto scams.
David Kagel, an 86-year-old former attorney, received a five-year probation sentence and must pay $14 million in restitution for his involvement in a crypto Ponzi scheme.
Court orders former Beverly Hills attorney David Kagel to pay $14 million in restitution for his involvement in a $9.5 million crypto Ponzi scheme. Kagel had promoted the scheme by using his law firm's letterhead for false investment promises.
86-year-old David Kagel admits to running a crypto Ponzi scheme, agreeing to pay $14 million. Due to his age and health, prosecutors seek only a five-year probation sentence.
Former attorney David Kagel has admitted guilt in running a $11 million Bitcoin Ponzi scheme, facing up to 5 years in prison.
David Kagel, a disbarred California attorney, pleaded guilty to a $9.5 million cryptocurrency Ponzi scheme, falsely promising high returns through AI trading bots and claiming to hold $11 million in bitcoin. Faces a 5-year prison sentence.
David Kagel, a disbarred California attorney, admitted involvement in a $9.5 million cryptocurrency Ponzi scheme, following allegations of mismanaging client funds.
