US DoJ sentences founder of Miami-based cryptocurrency token CluCoin to 27 months for wire fraud, with $1.14m in restitution and asset forfeiture

Initially focused on charity Taylor later shifted CluCoin’s focus to NFTs, gaming, and a metaverse platform. To drive interest, he organized “NFTCon: Into the Metaverse” in Miami in April 2022. Following the event, Taylor accessed the funds from CLU investors and transferred approximately $1.14 million to his personal account, which he lost gambling at online casinos. The FBI investigated the case with Assistant US Attorneys prosecuting and handling…