American crypto celebrity "TJ Stone" has been sentenced to 45 months in prison for fraud, with fines exceeding $1.3 million

On March 15, the U.S. Federal Court ruled on Friday that Brooklyn podcast host and cryptocurrency celebrity Thomas John Sfraga ("TJ Stone") was sentenced to 45 months in prison for telecommunications fraud and fined $1,337,700. According to a Department of Justice announcement, Sfraga defrauded investors of approximately $2 million through cryptocurrency and real estate investment scams from 2016 to 2022. He had also promised an investor that his fake crypto wallet project could provide a return of 60% within three months but then misappropriated funds to cover old debts and personal expenses. In addition, he falsely claimed to operate multiple businesses.

Previous reports stated that on May 17, 2024, Thomas John Sfraga pleaded guilty to charges of telecommunications fraud in the Brooklyn Federal Court.