The Washington Post

The founder


of a cryptocurr­ency and virtual payment services company has been convicted by a federal jury of defrauding investors out of $6 million and spending some of the money on antiques, artwork and jewelry. Randall Crater, 51, of East Hampton, N.Y., was convicted in federal court in Boston on Thursday of wire fraud, unlawful monetary transactio­ns, and operating an unlicensed money transmitti­ng business, the U.S. attorney’s office in Boston said. Crater founded Las Vegas-based My Big Coin Pay in 2013, offering virtual payment services through the digital currency, “My Big Coins,” which he marketed to investors between 2014 and 2017, prosecutor­s said.

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