The SEC said that the Nevada-based NAC Foundation raised at least $5.6 million from more than 2,400 investors by selling tokens that could later be converted to AML Bitcoin.<\/strong><\/p>\n“We allege that these defendants repeatedly misled investors into funding non-existent technology, falsely claiming that the technology would make digital asset transactions more secure,\u201d Kristina Littman, chief of the SEC Enforcement Division\u2019s Cyber Unit, said in a recent statement.<\/p>\n
Former Fraud<\/h2>\n
In 2008, Abramoff was sentenced to four years in prison and ordered to pay over $23 million for allegedly conspiring to defraud four Native American tribes that either operated, or were interested in operating, casinos. The tribes were in Mississippi, Louisiana, Texas, and Michigan.<\/p>\n
Each tribe hired Abramoff for consulting advice on how to limit competition from competing casinos or advice on how to re-open a closed casino.<\/p>\n
In 2006, Abramoff pleaded guilty to a single count each of conspiracy to commit fraud, honest services fraud involving public officials, and tax evasion. Abramoff had admitted he received undisclosed kickbacks from former lobbyist Michael Scanlon, who owned and operated Capitol Campaign Strategies.<\/p>\n
Multiple other defendants were sentenced to prison for their roles. The wide-ranging case led to national attention<\/p>\n","protected":false},"excerpt":{"rendered":"
New federal charges are pending against one-time lobbyist Jack Abramoff for a plot involving bitcoin. The new charges arrive several years after his previous arrest and sentencing for violations related to the tribal gaming sector. In the new case announced last week, Abramoff was charged with conspiracy to commit wire fraud and violating the Lobbying […]<\/p>\n","protected":false},"author":44,"featured_media":140252,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18456],"tags":[],"acf":[],"yoast_head":"\n
Jack Abramoff Faces Possible New Prison Sentence<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n