Randall Crater Ordered to Pay $7.6 Million for Digital Asset Fraud Involving 'My Big Coin'; Sentenced to 10 Years

A federal court has ordered Randall Crater, a Florida man, to pay over $7.6 million for committing digital asset fraud involving a fraudulent cryptocurrency named 'My Big Coin.' Crater misled investors by claiming the coin was backed by gold, using the funds to purchase luxury items including a home, fine art, and jewelry. This ruling comes amid a broader context of fraud cases, including a Cedar City man facing multiple charges related to theft and deception, and another individual accused of sexually assaulting multiple women in southern Utah. The Cedar City man has a history of convictions and is currently under investigation for defrauding a victim of $20,000. Additionally, a Canadian man was sentenced to 41 months in prison for laundering millions in Bitcoin, highlighting ongoing legal actions related to financial crimes in the digital asset space.