Court of Appeal upholds conviction of founder of cryptocurrency project My Big Coin

An appeals court has upheld the fraud conviction of Randall Crater, who founded cryptocurrency project My Big Coin, and was sentenced to more than eight years in prison. In a Feb. 23 filing with the 1st Circuit Court of Appeals, a three-judge panel affirmed Randall Crater's conviction more than a year after a jury found Crater guilty of four counts of wire fraud and three counts of wire fraud. One count of illegal currency transactions and one count of operating an unlicensed money transmission business. (Cointelegraph) As reported in early February, Judge Denise J. Casper of the Boston Federal Court sentenced My Big Coin founder Randall Crater to 100 months (8 years and 4 months) in prison and three years of supervised release for marketing and selling fraudulent virtual currency. Currency, operating an unlicensed virtual currency exchange. Crater was also ordered to pay $7,668,317 in fines.