Trendon Shavers: Shavers and Judge

trendon shavers: Federal sentencing guidelines had called for a prison term of nearly three years, according to The Japan Times. The judge also ordered $1.2 million, the amount lost by 48 investors, to be forfeited and an equal amount of restitution. Trendon Shavers, 33, was sentenced in Manhattan federal court by Judge Lewis A. Kaplan, who said Shavers committed a serious crime but had earned leniency through the honest work he has done since his 2014 arrest. He said Shavers, of Prosper, Texas, carried out a classic Ponzi scheme after offering potential investors high interest rates to turn over bitcoins, a virtual currency that operates outside government regulation. Shavers told the judge he royally messed up. Authorities say that at the peak of the scheme Shavers possessed about 7 percent of all bitcoins in public circulation. (news.financializer.com). As reported in the news.