The United States Attorney's Office for the District of Connecticut recently announced that Lyell Champagne Jr., a resident of Missouri, has been sentenced to three years in federal prison for cryptocurrency-related fraud and tax crimes. The Federal Bureau of Investigation (FBI) and the Internal Revenue Service (IRS) investigated the case. According to court documents, the Department of Justice explained that between March 2021 and April 2022, the man and his co-conspirator Kristian Gupta attempted to steal funds from victims' bank accounts by obtaining online credentials and transferring funds to cryptocurrency accounts under their control. The pair also tried to enlist insiders at banks, but an undercover investigation thwarted their scheme. In addition to this fraudulent activity, Champagne filed false tax returns for a non-existent company, "Shireberk International," from 2018 to 2021, receiving a $34,449,935 refund. Champagne pleaded guilty to bank fraud and making false claims on June 11. His accomplice, Gupta, pleaded guilty in April and is scheduled for sentencing on September 19. (Bitcoin.com)