According to The Block, a U.S. federal jury found San Francisco resident Japheth Dillman guilty of wire fraud and conspiracy to commit wire fraud. The U.S. Department of Justice stated that Dillman made false statements regarding Block Bits Capital, the crypto trading fund he co-founded, defrauding nearly 1 million dollars from over 20 investors; his sentencing hearing is scheduled for December 8.
San Francisco game industry founder convicted of cryptocurrency fund fraud
TechFlowShare
Summary
A U.S. federal jury has convicted Japheth Dillman, a San Francisco-based founder in the gaming industry, of wire fraud and conspiracy to commit wire fraud. The U.S. Department of Justice stated that Dillman misled investors regarding the crypto trading fund Block Bits Capital, defrauding more than 20 individuals of nearly $1 million. His sentencing is scheduled for December 8. The case underscores continued scrutiny within the crypto industry. Dillman’s actions have drawn significant attention in cryptocurrency news circles.
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