Texas man in $20M Meta-1 Coin fraud sentenced to 23 years in prison

Meta-1 Coin was sold and marketed from 2018 to 2023 as an investment backed by $44 billion in gold and $1 billion in artworks, which turned out to be fictional.

A Texas man found guilty of helping orchestrate a cryptocurrency scam project that defrauded $20 million from nearly 1,000 investors has been sentenced to 23 years behind bars by a US judge on Tuesday.

US District Judge LaShonda Hunt sentenced Robert Dunlap, who served as a trustee of the project that sold the fictional token Meta-1 Coin, to prison and ordered him to pay restitution to victims of the fraud, according to the Illinois US Attorney's office.

Assistant US attorneys Jared Hasten and Paige Nutini said in the government’s sentencing memorandum that Dunlap was “unrepentant” and that his lies grew “over the years.”

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