Odaily Planet Daily News Former Deutsche Bank investment banker Rashawn Russell intends to plead guilty to cryptocurrency fraud charges.
It is reported that Russell is a 27-year-old licensed broker who has previously denied being involved in fraudulent crypto transactions. However, recent court documents show a significant shift in his defense.
Russell's legal proceedings have experienced numerous delays, allowing his attorneys to explore plea deal options with authorities. The case was referred to magistrates for a "change of plea" hearing, which indicated Russell's intention to plead guilty to offenses related to the fraud charges. (CryptoPotato)
According to previous news in April, Rashawn Russell was accused by U.S. prosecutors of participating in crypto fraud, falsely promising high returns to investors, and using investors' funds for gambling or maintaining a Ponzi scheme.
Russell was charged with wire fraud and faces up to 20 years in prison if convicted. Russell refused to plead guilty at the time.
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