Thomas John &#8220;T.J. Stone&#8221; Sfraga was sentenced in federal court for scamming real estate and crypto investors through a business inspired by the 90s TV show Seinfeld. According to a press release from the U.S. Attorney&#8217;s Office, Sfraga was sentenced…

Crypto influencer sentenced to 45 months for swindling $2m from investors

Thomas John Sfraga, also known as &#8220;TJ Stone,&#8221; received 45 months in prison for 
wire fraud and was ordered to pay more than $1.3 million in forfeiture as part 
of a scheme targeting crypto investors.
In a March 14 notice, the US Justice Department said Sfraga was sentenced in 
the US District Court for the Eastern District of New York (EDNY) for wire 
fraud following a May 2024 guilty plea. Court filings stated that the 
influencer and podcaster claimed he was the owner of businesses &#8212; including 
Vandelay Contracting, a name based on a running joke from the television 
series _Seinfeld_ &#8212; and the emcee of many crypto events in New York City.
&#8220;[&#8230;] Sfraga convinced a victim to invest in a fictitious cryptocurrency 
&#8216;virtual wallet,'&#8221; said the Justice Department. &#8220;He promised the victims 
returns on their investments as high as 60% in three months. In reality, 
however, Sfraga used the money entrusted to him by the victims for his own 
benefit, to pay expenses, and to pay earlier victims and business associates.&#8221;
Sfraga&#8217;s case was one of many involving crypto-related crimes continuing to be 
pursued in the jurisdiction following the appointment of John Durham as 
interim US Attorney by President Donald Trump. Braden John Karony, former CEO 
of SafeMoon, who also faces EDNY criminal charges, requested in February that 
his criminal trial for securities fraud conspiracy, wire fraud conspiracy and 
money laundering conspiracy be pushed based on the administration&#8217;s approach 
to crypto enforcement.
The &#8220;Seinfeldian&#8221; scheme, according to Durham, was not the first time the 
crypto industry was connected to the popular sitcom. Comedian Larry David, co- 
creator of the show, starred in a Super Bowl ad for defunct cryptocurrency 
exchange FTX in 2022. He later said he was &#8220;an idiot&#8221; for endorsing the 
company and lost a lot of money after the price of specific tokens dropped.
_**Related:**__**Why comedian TJ Miller wants to be a trustworthy face for 
Bitcoin**_
Since Trump took office on Jan. 20, some high-profile defendants in criminal 
cases involving cryptocurrency have reportedly been looking into appealing to 
the US president for a pardon. Among those reportedly seeking pardons were 
former FTX CEO Sam Bankman-Fried, currently serving a 25-year sentence 
following a 2023 conviction, and former Binance CEO Changpeng Zhao, who served 
a four-month sentence in 2024 &#8212; though he denied reports of a potential 
pardon.
_**Magazine:**__**Crypto fans are obsessed with longevity and biohacking: Here 
&#8216;s why**_

Crypto influencer sentenced to 45 months in prison for wire fraud

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