Court upholds fraud conviction against My Big Coin founder

The appellate court upheld the fraud conviction against Randall Crater, who founded the cryptocurrency project My Big Coin and was sentenced to more than eight years in prison. In a filing submitted to the First Circuit Court of Appeals on February 23, a panel of three judges confirmed Randall Crater's conviction over a year after a jury found the cryptocurrency founder guilty of four counts of wire fraud, three counts of illegal monetary transactions, and one count of operating an unlicensed money transmitting business. Appellate Judges Gustavo Gelpí, Jeffrey Howard, and Julie Rikelman issued an opinion stating that Randall Crater should not receive a new trial to participate in cryptocurrency plans.