Miami Fraudster Sentenced to 63 Months in Prison for Duping Banks out of $4,000,000 in Crypto Scheme

Esteban Cabrera Da Corte, a resident of Miami, has been sentenced to 63 months in prison for leading a scheme that defrauded banks of millions of dollars by stealing crypto assets and cash. Da Corte and his crew used fake identities to purchase $4 million worth of virtual currencies from an unnamed crypto exchange and then falsely claimed to banks that the purchases were unauthorized. They were able to deceive both the banks and the crypto exchange platform, tricking them into reversing the transactions and depositing money into accounts controlled by his team. In addition to his prison sentence, Da Corte was ordered to pay about $3.58 million worth of restitution and forfeit $1.2 million.