Former football player sentenced to two and a half years in prison for $900,000 crypto mining Ponzi scheme

PANews reported on July 18 that according to Cointelegraph, former football player Shane Donovan Moore was sentenced to two and a half years in prison for operating a cryptocurrency mining Ponzi scheme. Between 2021 and 2022, Moore defrauded more than 40 investors of more than $900,000 through Quantum Donovan, and the promised 1% daily return was actually misappropriation of new investors' funds to pay old debts. The investigation showed that Moore used the funds for personal consumption such as purchasing luxury apartments and designer bags. A federal judge in Seattle pointed out that in addition to causing economic losses, his actions also caused psychological trauma to the victims.