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Saturday, April 10, 2021
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This week in federal court in Brooklyn, Michael Hlady of East Greenwich pleaded guilty before United States Chief District Court Judge Margo K. Brodie to conspiring to extort a startup company for millions of dollars in the cryptocurrency Ether (ETH).
When sentenced, Hlady faces up to 20 years in prison, as well as a fine. Hlady also goes by the name Michael Peters.
“Hlady and his co-conspirator used strong-arm tactics to shake down a startup company of cryptocurrency and will now face punishment just like anyone else who extorts a business,” stated Acting United States Attorney Lesko. “This Office and its law enforcement partners are committed to protecting businesses from extortion in whatever manner it is perpetrated.”