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David Kagel, an 85-year-old, recently-disbarred California attorney from Beverly Hills, has pleaded guilty to one count of conspiracy to commit commodity fraud in connection with a $9.5 million cryptocurrency Ponzi scheme. Kagel admitted his role in the scheme and faces up to five years in prison. The plea was entered in a Las Vegas federal court on May 28, according to federal prosecutors.
[DOJ] Former Investment Banker and Registered Broker Sentenced for Operating $1.5M Cryptocurrency Investment Fraud Scheme
Former Investment Banker and Registered Broker Sentenced to 41 Months’ Imprisonment for Cryptocurrency Investment Fraud Scheme https://t.co/tJJZRiHrz0 (Announced with @DOJCrimDiv and @USPISpressroom)
Disbarred California attorney David Kagel faces up to five years in prison for his role in a $9.5 million cryptocurrency Ponzi scheme. Kagel pleaded guilty to one count of conspiracy to commit commodity fraud in Las Vegas federal court on May 28 https://t.co/4os25T73eR https://t.co/GVbVatyJVT
