TechFlow news: On September 27, Damian Williams, U.S. Attorney for the Southern District of New York, announced on September 26 that Eugene William Austin Jr., also known as "Hugh Austin," was found guilty on three counts related to conspiracy to commit wire fraud, money laundering, and interstate transportation of stolen property. Austin, together with his son Brandon Austin, defrauded multiple victims across the United States, causing millions of dollars in losses. Austin’s criminal activities included impersonating a broker for large cryptocurrency transactions, promising high-return short-term cryptocurrency investments, and claiming to secure high-net-worth investors for startups. The pair used the illicit proceeds for personal expenses, including luxury hotels, restaurants, and shopping. One case involved a $5 million cryptocurrency scam. Austin will be sentenced on February 20, 2025, and faces up to 45 years in prison. His son Brandon previously pleaded guilty and was sentenced to four years in prison.
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