Truglia Crypto Scam Case Sentence Increased to 12 Years Due to Refusal to Pay Compensation

Nicholas Truglia, who was previously sentenced to 18 months in prison for his involvement in the theft of $22.00 million in cryptocurrency, had his sentence increased to 12 years by Judge Alvin Hellerstein of the U.S. District Court for the Southern District of New York on July 10, 2025, for failing to fulfill a $20.40 million compensation agreement. Truglia pleaded guilty in 2021, admitting to participating in a criminal group that used SIM swapping to take control of victims' phones and transfer their crypto assets. The victim was Transform Group CEO Michael Terpin. [Bloomberg]