An 86-year-old man in the United States admitted to carrying out a Ponzi Scheme and was sentenced to five years probation, and paid a fine of about 14 million dollars.

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PANews reported on October 9th that an 86-year-old former California lawyer has been sentenced to five years of probation and ordered to pay nearly 14 million dollars for admitting to running a Ponzi Scheme worth millions of dollars in encryption. Due to poor health, the suspect is currently receiving end-of-life care at a senior facility in Las Vegas, where he will serve his probation unless he leaves—when he will be required to wear a monitoring device. From around December 2017 to June 2022, the suspect and two accomplices lured victims into investing in fraudulent encryption robot trading programs with high returns and risk-free promises.

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