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Cryptocurrency Hedge Fund CIO Pleads Guilty in Federal Court, Stealing Investor Money


Cryptocurrency Hedge Fund CIO Pleads Guilty in Federal Court, Stealing Investor Money
Posted on 02/05/2021
Stefan He Qin, age 24, is the Founder of the Virgil Sigma Fund LP (“Virgil Sigma”) and the VQR Multistrategy Fund LP (“VQR”), a pair of cryptocurrency hedge funds in New York, New York, with over $100 million in investments. Stefan He Qin was charged with one count of securities fraud and pled guilty in Manhattan federal court. This charge carries a maximum term of 20 years in prison. For years, Stefan He Qin stole investor money from Virgil Sigma and, in December 2020, Stefan He Qin tried to steal investor money from VQR to pay back his investors in Virgil Sigma. Virgil Sigma and VQR, two multimillion-dollar cryptocurrency investment funds, were revealed to be slush funds for Qin to live his extravagant lifestyle. ....

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Australian Pleads Guilty To US-Based Crypto Fund Scam Of $90 Million


Australian Pleads Guilty To US-Based Crypto Fund Scam Of $90 Million
Last Updated: 05 February 2021
One citizen from Australia has recently pleaded guilty of cheating US-based investors through a cryptocurrency fund based in the US, costing these investors more than $90 million in the process.
Australian Perpetrator Failing In The US
The perpetrator in question, 24-year-old Stefan He Qin, had plead guilty to one count of Securities Fraud. This charge was laid against him within the Federal Court of Manhattan on the 4th of February, 2021.
US attorney Audrey Strauss made a statement about the matter at large within the Office of the US Attorney for the New York Southern District Court. According to the office, Qin had been committing this fraud since 2017, going on until 2020. In particular, he had operated a crypto fund by the name of Virgil Sigma. ....

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