The leader of Miami’s cryptocurrency fraud network, Esteban Cabrera Da Corte, had previously admitted guilt in April for his involvement in a crypto scheme defrauding US banks of $4 million. Esteban Cabrera Da Corte, who has been in custody for an extended period, has now been sentenced to 63 months in prison by a New York district judge, according to the announced decision today.
Received a Million-Dollar Fine!
In addition to the prison sentence, Corte has been ordered to pay approximately $4.8 million in restitution.
According to the court, Da Corte’s Miami group, under his leadership, successfully executed the cryptocurrency fraud operation and seized a total of $4 million from US banks. The network, which engaged in sophisticated attacks against banks, persuaded its victims to engage in transactions worth millions of dollars.
The Court Imposed a Deterrent Punishment
In the recent decision, the New York district judge emphasized the need for a deterrent punishment for individuals involved in cryptocurrency fraud, taking into consideration the negative impact of Da Corte’s crimes on society.