Ah, mesdames et messieurs! Gather ’round, for I bring you a tale most absurd! Our protagonist, one Thomas John “T.J. Stone” Sfraga, has been sentenced in the grand theater of federal court for swindling unsuspecting investors in a manner most theatrical, inspired by none other than the beloved 90s sitcom, Seinfeld! 🎭
In a most dramatic twist, the U.S. Attorney’s Office has decreed that our dear Sfraga shall spend 45 months in the clink, whilst also parting with nearly $1.4 million in forfeiture to the state. The restitution, like a good punchline, shall be revealed at a later date! 🕰️
Our charming rogue pleaded guilty to wire fraud charges in the merry month of May 2024. He spun a web of deceit, convincing his victims to invest in a fictitious crypto venture dubbed “virtual wallet.” He promised returns as lofty as 60% in a mere three months! Alas, there was no such wallet, only Sfraga’s own pockets being lined with the gold of his duped investors! 💰
To add a dash of credibility to his charade, Sfraga claimed to be the proud owner of several businesses, including the illustrious Build Strong Homes LLC and the ever-so-fanciful Vandelay Contracting Corp. Ah, Vandelay! A name plucked straight from the annals of Seinfeld, where the hapless George Costanza spun tales of job interviews that never were! 😂
But wait, there’s more! Our dear Sfraga fancied himself an entrepreneur, a podcaster, and a crypto advocate, gracing the stages of cryptocurrency events in New York, charming the very socks off crypto traders with his dubious charisma! 🎤
According to the release, Sfraga managed to ensnare around 17 victims from the fine boroughs of Brooklyn, Staten Island, and Long Island. He convinced them to part with their hard-earned ducats, promising riches tied to real estate and crypto that existed only in his imagination. One poor soul even lent him a staggering $100,000 for a non-existent construction project! 😱
John J. Durham, the U.S. Attorney for the Eastern District of New York, lamented the severe financial and emotional toll inflicted upon Sfraga’s victims, who placed their trust in this master of deception. “Sfraga callously stole from friends, neighbors, and even the parents of children who played on teams with his own offspring!” he exclaimed, shaking his head in disbelief. 🤦♂️
In a recent survey conducted by The North American Securities Administrators Association, it was revealed that cryptocurrency and social media scams are the top two threats facing retail investors in 2025. Who would have thought? About 32% of these scams lured victims through social media platforms like Facebook and X, while another 31% were linked to messaging services, including Telegram and WhatsApp. Truly, a modern-day comedy of errors! 📱
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2025-03-14 18:32