Block Bits Capital Founder Convicted in Nearly $1M Crypto Fraud
Prosecutors said more than 20 investors lost nearly $1 million after Dillman and a co-conspirator misrepresented the fund’s automated trading system.
- A federal jury convicted Block Bits Capital co-founder Japheth Dillman of wire fraud and conspiracy on Monday, after prosecutors proved he defrauded more than 20 investors of nearly $1 million.
- Evidence showed Dillman falsely marketed an automated trading program called "Autotrader" as a completed product, knowing the algorithm remained non-functional despite investor claims.
- U.S. District Judge Richard Seeborg presided over the 10-day trial in the Northern District of California, with sentencing scheduled for Dec. 8 where Dillman faces up to 20 years in prison and a fine of up to $250,000.
- The Justice Department's Scam Center Strike Force has seized more than $800 million in assets from international crypto fraud networks targeting victims across the United States.
- Related investigations include Christopher Alexander Delgado of Goliath Ventures, who admitted to at least $250 million in losses, and Misam Abidi, charged in an alleged $1.9 million Star Credit Holdings scheme.
15 Articles
15 Articles
Block Bits Capital founder convicted in nearly $1M crypto fraud
A federal jury has convicted Block Bits Capital co-founder Japheth Dillman of wire fraud and conspiracy after prosecutors said more than 20 investors lost nearly $1 million in a fraudulent cryptocurrency trading fund. The U.S. Department of Justice said on…
East Bay Times
The Mercury newsSan Francisco crypto trading fund cofounder convicted of fraud
Authorities say Japheth Dillman misled investors about the capabilities and profitability of Block Bits Capital.
Block Bits Founder Convicted In $1M Crypto Fraud
A federal jury has convicted Block Bits Capital co-founder Japheth Dillman of wire fraud and conspiracy after prosecutors said more than 20 investors lost nearly $1 million in a fraudulent cryptocurrency trading fund, crypto.news reported, citing the Department of Justice. The scheme The 48-year-old San Francisco resident was found guilty following a 10-day trial before U.S. District Judge Richard Seeborg in the Northern District of California. …
SF man who promised automated crypto profits found guilty of defrauding investors
A federal jury has convicted a San Francisco man of wire fraud and conspiracy after federal prosecutors said he helped deceive more than 20 investors out of nearly $1 million through a cryptocurrency trading fund. Japheth Dillman, 48, was convicted Monday following a 10-day trial, according to the U.S. Attorney’s Office for the Northern District of California. According to trial evidence, Dillman and a co-conspirator raised money from investors …
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