Jason Alexander stars as George Costanza.
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Yada, Yada, Yada, this crypto scammer is no longer smiling.
A New York man swindled friends, neighbors and investors out of more than $1.3 million, including getting them to invest in a fake real estate project involving a company named after a New York Times joke. Classic TV comedy “Seinfeld” Federal prosecutors said Friday it was a fictitious cryptocurrency.
Thomas John Sfraga, 55, “claimed to be the owner and principal of multiple businesses between 2019 and 2022,” the U.S. Attorney’s Office in Brooklyn said in a statement. , which includes Vandelay Contracting Corp. and Build Strong Homes LLC.”
“In the TV show “Seinfeld,” the character George (Costanza) lies about interviewing for a job at the fictional company Vanderlay Industries,the office noted.
Prosecutors said Sfraga, who goes by the cryptocurrency identity of “TJ Stone,” describes himself as a serial entrepreneur with extensive experience in real estate development, media relations, podcasting and cryptocurrency, including serving as a presenter or emcee at a New York cryptocurrency event people.
Prosecutors said Sfraga promised victims returns of up to 60 percent on their investments within three months, but instead used the money for his own benefit “to pay fees and pay fees to previous victims and business partners.” .
Sfraga, who lives in Brooklyn, pleaded guilty Thursday in Brooklyn federal court to wire fraud, prosecutors said.
In addition to being ordered to pay more than $1.3 million in restitution, he faces up to 20 years in prison.
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