A cryptocurrency investment scam that took place in the United States has recently reached a final verdict, and it’s worth all investors’ attention.

54-year-old Utah resident Brian Garry Sewell was sentenced to three years in federal prison for operating a cash-to-cryptocurrency business without any license and defrauding investors of nearly $2.9 million. The court’s ruling not only includes imprisonment but also orders him to pay over $3.8 million in restitution, including payments to 17 victims and the Department of Homeland Security.

This case spanned a particularly long period. From December 2017 to April 2024, Sewell used the same scheme to deceive at least 17 investors—lying about his experience, fabricating educational backgrounds, and boasting about profits. These false promotions acted like bait, luring investors one after another.

What does this case tell us? In the cryptocurrency field, unlicensed personal trading and transfer services carry significant risks. Those claiming to have extensive experience and exaggerating returns are often common tactics used by scammers. Asking more questions and verifying background information before investing is truly crucial.