Epitome: Crypto Comeuppance
By Elliott Richardson, Craig Daveson and Brayden Sim in Epitome on Monday, 24th January 2022 at 11:14am Business | In our latest edition of “Crypto is a giant grift”, we have a convicted crypto fraudster discussing his $123m worth of fraud.
Jessica Sier’s story for The Fin centres on a video Canberra-born fraudster Stefan Qin produced before beginning his 7.5 year prison sentence in the United States. The video starts with Qin pretty comically attempting to box, saying he took it up six months ago to help prepare him for life in prison. He then talks through how he came to work in crypto, before co-founding the Virgil Sigma Fund which is where the fraud started.
Sier writes that Qin basically ran a crypto ponzi scheme, shifting money around different accounts at Virgil, then lying about the fund’s performance to investors and during interviews which would, in turn, generate more i...
Jessica Sier’s story for The Fin centres on a video Canberra-born fraudster Stefan Qin produced before beginning his 7.5 year prison sentence in the United States. The video starts with Qin pretty comically attempting to box, saying he took it up six months ago to help prepare him for life in prison. He then talks through how he came to work in crypto, before co-founding the Virgil Sigma Fund which is where the fraud started.
Sier writes that Qin basically ran a crypto ponzi scheme, shifting money around different accounts at Virgil, then lying about the fund’s performance to investors and during interviews which would, in turn, generate more i...
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