Crypto Scammer Nicholas Truglia Sentenced to an Additional 12 Years in Prison for Failure to Pay Restitution in Fraud Case

BlockBeats News, July 11th, according to The Block, convicted cryptocurrency scammer Nicholas Truglia has been sentenced to an additional 12 years in prison for failing to pay restitution related to a $20 million cryptocurrency scam.

Truglia had previously been sentenced to 18 months in 2022. According to a report from the U.S. Department of Justice, he was involved in a scam to illegally access a $20 million cryptocurrency wallet by swapping the victim's phone number-linked SIM card. Truglia assisted in draining the victims' funds and converting the assets into Bitcoin.

He pleaded guilty to conspiracy to commit wire fraud and had already served 12 months of his 18-month sentence when sentenced. During the hearing, he agreed to pay over $20 million in restitution to the victims.