A former investment banker and registered broker was taken into custody for alleged involvement in a $1.5 million fraud scheme regarding cryptocurrency. This news was reported by The Daily Hodl.

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Former investment banker and licensed broker, Rashawn Russell, has been sentenced to over three years in prison for orchestrating a fraudulent scheme involving $1.5 million worth of cryptocurrency. The US Department of Justice (DOJ) stated that Russell, a former employee of FINRA, deceived investors with false promises of high returns and used their funds for personal use. In addition, he obtained credit and debit card information from gym lockers and used them for unauthorized transactions. Russell has also been ordered to pay restitution to his victims. Subscribe to our email alerts for the latest news and updates on the cryptocurrency market. Please note that all investments and trades carry a risk and investors should do their own research before making any decisions. The Daily Hodl is not responsible for any losses incurred.