CandleFocus Same Judge Who Ruled in Favor of Ripple Hands Down Sentence in $8.4 Million Crypto Ponzi
2025-01-28
Author: Content Editor
In a recent ruling, Judge Analisa Torres, known for her game-changing XRP ruling, sentenced a crypto Ponzi scheme promoter named Hernandez to 30 months in prison for defrauding investors of $8.4 million. This comes shortly after the SEC filed an appeal challenging Torres' ruling that differentiated between institutional and retail sales of XRP. The sentencing shed light on the impact of the scheme on victims, with one investor stating that they lost their retirement savings and marriage due to the fraud. The case comes amidst leadership changes at the Southern District of New York, with former SEC Chair Jay Clayton nominated as U.S. Attorney, potentially indicating a shift in the approach to crypto-related crime prosecution.
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