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Australian man convicted in nearly $90M cryptocurrency scam

first_imgNEW YORK (AP) — Prosecutors say an Australian man has pleaded guilty to securities fraud for cheating investors of nearly $90 million by squandering money they spent on his cryptocurrency fund. Stefan He Qin entered the plea Thursday in Manhattan federal court. U.S. Attorney Audrey Strauss says the 24-year-old Qin spent money from investors on indulgences and speculative personal investments. She called it “brazen thievery.” Authorities said the fraud occurred from 2017 to 2020. Prosecutors said Qin cheated dozens of investors, including many in the United States. They said the fraud was revealed last summer when Qin was having difficulty meeting redemption requests from investors. Qin faces up to 20 years in prison at a May 20 sentencing.last_img

Broncos’ contract negotiations stall with 2nd-round pick Drew Lock, report says

first_imgBut Lock made it clear he wanted a higher-value contract than Risner and negotiations have stalled ahead of the first team meeting Wednesday morning and the first practice on Thursday, 9News added.Risner reportedly signed a four-year deal worth “a little more” than $7 million Tuesday. Due to the NFL’s slot system, the report noted, Lock should receive a four-year, $7 million contract with a $3.119 million bonus and Risner isn’t concerned about making less than a player selected after him in the draft.Lock started in 46 of his 50 games at Missouri. Although his best season came as a junior, he finished his final year completing 62.9% of his passes for 3,498 yards and 28 touchdowns. Larry Fitzgerald says Kliff Kingsbury is speeding up Cardinals’ offense But, history isn’t in Lock’s favor.The report noted quarterbacks taken in both the first and third rounds commonly get the premium, but since 2014, no second-round signal caller has received it.  Related News Instead, the report notes Denver has offered Lock the same workout bonus add ons as left guard Dalton Risner, who was the 41st pick by the team, taken one slot ahead of Lock. Robbie Gould happy ‘weird offseason’ is behind him after securing new deal with 49ers There’s a ’40 percent’ chance Rob Gronkowski comes out of retirement, returns to Patriots, report says It seems the Broncos can’t agree to terms with their second-round pick.Drew Lock, a quarterback out of Missouri, is seeking a “quarterback premium,” according to a report from 9News.com, which cited unidentified league sources.last_img read more