A South Florida federal district judge sentenced a Washington, D.C., man to six years in federal prison for operating a $25 million diamond investment scheme that included a crypto component. He must also pay over $23 million in victim restitution. 

The accused, Jose Angel Aman, and his partners were sentenced by U.S. District Judge Rodolfo A. Ruiz II of the Southern District of Florida for soliciting funds from people in the United States and Canada for purported diamond contracts. 

Aman and his partners promised investors the money was safe and backed by an inventory of actual diamonds, the U.S. Department of Justice (DOJ) said, but Aman “rarely used investors’ money to purchase, cut and resell rough diamonds. Nor did Aman have a $25 million diamond inventory.”

Originally published at CoinDesk

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