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May 31st, 2024 - 01:12 GMT

Ex California attorney pleads guilty in $9.5M crypto scheme

Disbarred California attorney David Kagel entered a guilty plea on Tuesday to conspiring to operate a cryptocurrency Ponzi scheme that stole more than $9.5 million from victims, the Justice Department said. Kagel, 85, a former Beverly Hills lawyer, pleaded guilty to one count of conspiracy to commit commodity fraud with a maximum sentence of five years. Prosecutors said Kagel and his co-conspirators -- David Gilbert Saffron, of Australia, and Vincent ...
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