🚨🚨🚨Utah Man Sentenced to 3 Years for $2.9M Crypto Fraud 🚨🚨🚨
St. George, UT — Brian Garry Sewell, 54, was sentenced yesterday to 36 months in federal prison for a multi-million dollar fraud scheme and the operation of an unlicensed "cash-to-crypto" business.
🔶Case Details_ The Scheme: Sewell operated Rockwell Capital Management, where he defrauded at least 17 investors of over $2.9 million by misrepresenting his experience and the fund's investment strategies.
The Cash-to-Crypto Operation: In a separate but related case, Sewell admitted to running an unlicensed money transmitting business. He facilitated the conversion of bulk cash into cryptocurrency, bypassing federal compliance and anti-money laundering (AML) regulations.
The Sentence: Beyond the 3-year prison term, Sewell faces 36 months of supervised release and was ordered to pay restitution for the losses incurred by his victims.
"This case highlights the ongoing commitment of federal authorities to prosecute those who exploit the digital asset market to bypass financial regulations and defraud the public."
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