Crypto influencer sentenced to 45 months in prison for wire fraud

Thomas John Sfraga (also known as “TJ Stone”) was sentenced to 45 months in prison for wire fraud and ordered to pay more than $1.3 million in forfeiture as part of a plan targeting crypto investors.

In a March 14 notice, the U.S. Department of Justice explain Sfraga was sentenced for wire fraud in the U.S. District Court in the Eastern District of New York (EDNY) after pleading guilty in May 2024. Court documents state that influencers and Podcaster claim he is the owner of the business – including Vandalay Contracting, the name of the TV series’ jokes Seinfeld – and hosts of many crypto events in New York City.

“(…) Sfraga convinced the victim to invest in a virtual cryptocurrency ‘virtual wallet’,” the Justice Department said. “He promised the victim to return on investment up to 60% in three months. But, in fact, Sfraga used the money entrusted to him by the victim for his own benefit, paid for the expenses, and paid for the early victims and business partners.”

Sfraga’s case is one of many involving crypto-related crimes, continuing to litigate within jurisdiction after appointing John Durham to appoint John Durham to President Donald Trump. Braden John Karony, former CEO of Safemoon, also faces criminal charges from Edny, Required in February His criminal trials on securities fraud conspiracies, wire fraud conspiracies and money laundering conspiracies will be driven by the government’s crypto-enforcement approach.