Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»BLOCKCHAIN NEWS»Cryptocurrency personality TJ Stone admits to wire fraud charges
BLOCKCHAIN NEWS

Cryptocurrency personality TJ Stone admits to wire fraud charges

By Crypto FlexsMay 17, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Cryptocurrency personality TJ Stone admits to wire fraud charges
Share
Facebook Twitter LinkedIn Pinterest Email

Thomas John Sfraga, known as ‘TJ Stone,’ pleaded guilty to fraud charges in Brooklyn federal court on Thursday.

According to the U.S. Department of Justice, Sfraga was accused of defrauding investors by promising returns of up to 60% within three months through a non-existent cryptocurrency digital wallet. Instead of following through on these promises, he allegedly used these funds for personal use and to appease victims of previous fraudulent activities.

“For years, Sfraga shamelessly lied to his friends, neighbors and investors, embezzling more than $1.3 million of their hard-earned money,” Breon Peace, U.S. attorney for the Eastern District of New York, said of the case.

Brooklyn man and cryptocurrency celebrity TJ Stone plead guilty to wire fraud

The defendant admits to using a business named after the fictitious Seinfeld company to bill real estate and cryptocurrency investors out of more than $1.3 million.@NewYorkFBI https://t.co/ZaIITsS4YQ

— U.S. Attorney EDNY (@EDNYnews) May 17, 2024

A throwback to ‘Seinfeld’

Sfraga also claimed ownership of “Vandelay Contracting Corp.” and “Build Strong Homes LLC,” a company with a name reminiscent of a fictional corporation from the TV show “Seinfeld.” This fictitious reference was part of his strategy to lure investors into financing a non-existent construction project.

The FBI investigation found that Sfraga’s fraudulent activities extended to cryptocurrency staking, the process of using digital assets to power blockchain networks and provide potential profits through yield. According to a December 2023 FBI complaint, Sfraga misrepresented the risks associated with staking cryptocurrencies to potential investors, claiming it was a “risk-free” “down to earth situation.”

Sfraga, whose background includes real estate development, media relations, podcasting and hosting cryptocurrency events in New York, currently faces up to 20 years in prison. He was also ordered to pay $1.33 million in restitution.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

The new gold protocol of the BNB chain is due to the $ 2 million launch day nucleus.

September 20, 2025

Rabby Wallet integrates XRPL EVM chain with peersyst

September 15, 2025

Skale Labs fairly publishes a technical white paper and introduces the industry’s first “encryption proof” consensus protocol.

September 10, 2025
Add A Comment

Comments are closed.

Recent Posts

BTCC Exchange Partners With NBA All-Star Jaren Jackson Jr. To Inspire Smarter Moves In Sports And Crypto

September 24, 2025

ChainUp Wins Top Crypto Compliance Technology Honor At Thomson Reuters-Presented Awards

September 24, 2025

Fitell Corporation Launches Solana (SOL) Digital Asset Treasury With $100M Financing Facility, With Focus On Yield And On-Chain DeFi Innovation

September 24, 2025

Nebeus Overfunds Equity Crowdfunding Campaign With €3.6M Raised, Reflecting Growing Demand For Regulated Crypto–Finance Solutions

September 24, 2025

Next Binance Coin (BNB) Price Rally 3 Catalysts that can supply fuel

September 24, 2025

Ether Leeum World Fair Announcement

September 24, 2025

SOL Leverage Longs Jump Ship, is it $ 200 next?

September 24, 2025

Navigating Policy & Regulation in Blockchain

September 23, 2025

Flipster Debuts Market’s First USD1 Perps For BTC, ETH, SOL, XRP, And DOGE

September 23, 2025

BYDFi Joins Korea Blockchain Week 2025 (KBW2025): Deepening Web3 Engagement

September 23, 2025

MEXC Brings Immersive Experience With ‘0 Fee Lounge’ To Token2049

September 23, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

BTCC Exchange Partners With NBA All-Star Jaren Jackson Jr. To Inspire Smarter Moves In Sports And Crypto

September 24, 2025

ChainUp Wins Top Crypto Compliance Technology Honor At Thomson Reuters-Presented Awards

September 24, 2025

Fitell Corporation Launches Solana (SOL) Digital Asset Treasury With $100M Financing Facility, With Focus On Yield And On-Chain DeFi Innovation

September 24, 2025
Most Popular

Chart – Before 2013, did multiple inputs necessarily belong to a single user?

October 10, 2024

The strategy of Michael Saylor is the average price of $ 82,981, acquiring 130 Bitcoin.

March 17, 2025

Forbes lists XRP, ADA, LTC, and ETC among the best “zombie” tokens.

April 27, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.