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CluCoin founder sentenced to 27 months in prison for gambling investor funds

Austin Michael Taylor, founder of CluCoin and Goobers NFT projects, was convicted of wire transfer fraud for embezzling investor funds and using them for online gambling and sentenced to 27 months in prison, paying $1.14 million in damages and confiscating assets. Taylor confessed to investors in 2023 that he gambled and squandered his investment funds. Taylor asked the court to avoid jail time, in part because of his veteran status. He initially faced a maximum of 20 years in prison, the maximum sentence for wire fraud charges.(TheBlock)

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