Eugene William Austin Jr., a Long Island resident, has been sentenced to 18 years in prison for his involvement in a $12 million cryptocurrency fraud scheme. Along with his son, Brandon, Austin posed as a broker facilitating large crypto transactions and high-yield investments. They targeted victims, including acquaintances, promising substantial returns on investments. The scheme defrauded over 24 victims who contributed significant amounts, including a notable fraudulent deal worth $1 million. The pair used the proceeds from their crime to fund a lavish lifestyle, purchasing items like luxury cars and enjoying upscale living. In addition to his prison sentence, Austin was ordered to pay restitution totaling more than $12 million, marking a severe penalty for their fraudulent activities, which significantly impacted the victims involved. His son, Brandon, had previously been sentenced to four years for his role in the scheme.

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