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Utah Resident Sentenced to Three Years for Crypto Fraud and Unlicensed Operations

Utah Resident Sentenced to Three Years for Crypto Fraud and Unlicensed Operations

Author:

Global Cryptocurrency

Published:

2026-01-16 15:56:02

17

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BTCCSquare news:

A Utah man has been sentenced to three years in federal prison for defrauding investors of nearly $3 million through an unlicensed cash-to-crypto operation. Brian Garry Sewell, 54, pleaded guilty to wire fraud and running an unlicensed money transmitting business, with both sentences to run concurrently.

The U.S. Department of Justice ordered Sewell to pay over $3.8 million in restitution to defrauded investors and financial institutions. The case underscores the FBI's commitment to cracking down on cryptocurrency-related fraud and unlicensed financial services.

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