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Jason Alexander as George Costanza.
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Yada, yada, yada, this cryptocurrency criminal is not laughing now.
A New York man swindled greater than $1.3 million from mates, neighbors and buyers, together with by getting them to spend money on faux actual property tasks involving an organization named after a newspaper joke. basic TV comedy ‘Seinfeld’ and a fictional cryptocurrency, federal prosecutors mentioned Friday.
Thomas John Sfraga, 55, from 2019 via 2022 “represented himself because the proprietor and director of a number of corporations, together with Vandelay Contracting Corp.” and Construct Robust Properties LLC,” the U.S. Legal professional’s Workplace in Brooklyn mentioned in an announcement.
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“On the tv present ‘Seinfeld,’ the character George (Costanza) falsely claimed to have utilized for a job on the fictional firm Vandelay Industries,the workplace famous. Within the episode, the invariably sad Costanza claims he was searching for a job as a latex salesman.
Prosecutors mentioned that when Sfraga claimed to be a crypto persona named “TJ Stone,” he “represented himself as a serial entrepreneur with expertise in actual property improvement, media relations, podcasting and cryptocurrencies, together with serving as a number or emcee of cryptocurrency occasions.” in New York Metropolis.
Prosecutors mentioned Sfraga promised the victims funding returns of as a lot as 60% in three months, however really used the cash for his personal profit “to pay prices, and to pay earlier victims and enterprise associates.”
Sfraga, who lives in Brooklyn, pleaded responsible Thursday in Brooklyn federal court docket to fraud costs, prosecutors mentioned.
He faces a jail sentence of as much as 20 years, along with greater than $1.3 million in damages.
New York crypto persona used ‘Seinfeld’ joke in fraud
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