Former Football Player Sentenced to 30 Months in Prison for Involvement in $900,000 Crypto Mining Ponzi Scheme

On July 18, Decrypt reported that semi-professional football player Shane Donovan Moore was sentenced to 2.5 years in federal prison for running a fake cryptocurrency mining scam. From January 2021 to October 2022, Moore defrauded more than 40 investors through Quantum Donovan LLC, swindling them out of more than $900,000. He promised investors a daily mining return of 1%, but in reality, he used the funds to purchase luxury apartments, luxury goods, and electronic products for personal consumption. He also used a Ponzi scheme to pay small returns to early investors to maintain the scam. Moore mainly targeted people in the football circles of Washington, Utah, Oregon, Connecticut, and New Jersey, using personal trust to recruit victims, causing losses of more than $387,000. Judge Tana Lin specifically pointed out in the verdict that Moore caused emotional and psychological harm to the victims. [TechFlow]