Founder of $7.5M ‘brazen fraud scheme’ to see 8 years behind bars

Founder of “My Big Coin” and convicted fraudster Randall Crater has been sentenced to 100 months in prison and has been ordered to pay over $7.6 million to the victims of his fraudulent scheme. 

The U.S. Department of Justice (DOJ)

Even after his conviction, Crater continued to protest his innocence and stated in an Oct. 21, 2022, Youtube video that a My Big Coin credit card did in fact exist and claimed an investor testified under oath to having used the card multiple times.

Legal action against Crater was first initiated when now-former Judge Rya Zobel of the Massachusetts District Court on Sept. 25, 2018, ruled against a motion to dismiss a case that had been launched by the U.S. Commodity Futures Trading Commission (CFTC).

The DOJ officially laid the criminal charges against Crater shortly after on Feb. 19, 2019.

After Crater’s 100-month tenure behind bars, he will be subject to a supervised release for the following three years.