Crypto fraudsters ordered to pay over $1.1 million for "vicious defrauding of customers"

A US federal court has ordered Patrick K. McDonnell and his company Cabbage Tech Corp to pay over $1.1 million in civil monetary penalties and restitution in respect of virtual currency fraud.

As a result of a lawsuit brought in January by the Commodity and Futures Trading Commission (CFTC), the US District Court for the Eastern District of New York has found that McDonnell and Cabbage Tech had "engaged in a deceptive and fraudulent virtual currency scheme" to get customers to send them money and virtual currencies.

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