The co-founder of the cryptocurrency Ponzi scheme Airbit Club has been sentenced to 12 years in prison

ChainCatcher News: The U.S. Attorney's Office for the Southern District of New York announced that Airbit Club co-founder PABLO RENATO RODRIGUEZ has been sentenced to 12 years in prison for his role in a cryptocurrency Ponzi scheme. Four other defendants in the case have pleaded guilty and are awaiting sentencing.

AirBit Club was founded in 2015, and prosecutors stated that the scheme defrauded victims of $100 million. Six Airbit Club executives pleaded guilty to charges of conspiracy to commit fraud, money laundering, and other offenses in March of this year.