{"id":14153,"date":"2025-07-18T13:24:34","date_gmt":"2025-07-18T11:24:34","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=14153"},"modified":"2025-07-18T13:24:34","modified_gmt":"2025-07-18T11:24:34","slug":"ex-rugby-star-handed-down-sentence-for-900000-cryptocurrency-ponzi-scheme","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/07\/18\/ex-rugby-star-handed-down-sentence-for-900000-cryptocurrency-ponzi-scheme\/","title":{"rendered":"Ex-Rugby Star Handed Down Sentence for $900,000 Cryptocurrency Ponzi Scheme"},"content":{"rendered":"

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Former rugby athlete Shane Donovan Moore has been sentenced to two-and-a-half years in a US federal facility for cheating over 40 investors out of $900,000 in a crypto mining Ponzi operation.<\/p>\n

As per a Thursday announcement from the Department of Justice announcement<\/a>, Moore ran Quantum Donovan LLC between January 2021 and October 2022. Through this company, he allegedly deceived more than 40 investors for a total exceeding $900,000.<\/p>\n

While endorsing the scheme, Moore claimed that the raised funds were intended for cryptocurrency mining equipment. He assured investors daily returns of 1%.<\/p>\n

\u201cMr. Moore exploited the novelty of cryptocurrency to perpetrate an age-old deception \u2014 a Ponzi scheme<\/a>,\u201d noted Acting US Attorney Teal Luthy Miller.<\/p>\n

Related: <\/strong><\/em>Pig butchering scams have taken $5.5B from crypto investors in 2024 \u2014 Cyvers<\/strong><\/em><\/a><\/p>\n

The conclusion of a prolonged struggle<\/h2>\n

Officials from the US Justice Department charged Moore with fraud as early as March 2024<\/a>. Authorities indicated he utilized contacts \u201cfrom his rugby endeavors\u201d to attract investors.<\/p>\n

Instead of acquiring mining equipment, it is said that Moore utilized the investors’ contributions to support an extravagant lifestyle. He invested in lavish apartments, upscale luggage, and electronics, using funds from new investors to repay older ones, which is typical of Ponzi schemes.<\/p>\n

US District Judge Tana Lin in Seattle stated that he \u201cinflicted emotional and psychological harm on the victims\u201d in addition to monetary damages.<\/p>\n

Related: <\/strong><\/em>CFTC accuses pastor of promoting $6M crypto Ponzi scheme to churchgoers<\/strong><\/em><\/a><\/p>\n

The latest in a series of crypto Ponzi schemes<\/h2>\n

Moore\u2019s situation is far from unique, as crypto has been used to entice victims into scams or Ponzi schemes repeatedly. In mid-February, a US regulator charged a man from Las Vegas with allegedly defrauding over 400 investors out of $24 million<\/a> through a deceptive AI-driven crypto mining investment that turned out to be a hidden Ponzi scheme.<\/p>\n

Incidents and losses in 2024 categorized by month. Source: <\/em>CertiK<\/em><\/a><\/figcaption><\/figure>\n

In late January, Antonia Perez Hernandez, a promoter of the forcount crypto Ponzi scheme who admitted guilt to conspiracy to commit wire fraud, was sentenced to over two years in prison<\/a>.<\/p>\n

In late 2024, an 86-year-old former California attorney received a sentence of five<\/a> years\u2019 probation and was ordered to pay nearly $14 million after confessing to executing a multimillion-dollar crypto Ponzi scheme.<\/p>\n

Magazine: <\/strong><\/em>Outrage as $1.8B \u2018DGCX\u2019 crypto scam ringleader ridicules victims: Asia Express<\/strong><\/em><\/a><\/p>\n