news.bitcoin.com
A South Lake Tahoe man, Daniel Chartraw, 51, faces a 12-count federal indictment for wire fraud linked to a cryptocurrency trading scheme, per U.S. Attorney Phillip A. Talbert. Arrested recently, Chartraw allegedly misled investors through his companies, Crypto-Pal LLC and TDA Global, by falsely promoting a proprietary algorithm for high returns. Instead of investing funds, he reportedly used the money for personal expenses and travel. The indictment, announced by the Eastern District of California, results from an FBI investigation. Assistant U.S. Attorney Jessica Delaney is handling prosecution. If found guilty, Chartraw could receive up to 20 years in prison and a $250,000 fine, though sentencing factors may alter the outcome.