Coin

<ul class="news-points">
 <li>Hydrogen CEO Michael Kane will serve 3 years and 9 months behind bars.</li>
 <li>Head of Engineering Shane Hampton will serve for 2 years and 11 months.</li>
 <li>Hampton and Kane have been accused of manipulating the HYDRO token’s price.</li>
</ul>
Philadelphia residents Shane Hampton and Florida-based Michael Kane have been sentenced for manipulating the price of Hydrogen Technology’s native cryptocurrency, HYDRO. The two were accused of orchestrating a scheme to defraud investors.
As per a Department of Justice (DOJ) <a href="https://www.justice.gov/opa/pr/two-men-sentenced-orchestrating-multimillion-dollar-cryptocurrency-securities-fraud-and-wire" target="_blank" rel="noopener noreferrer nofollow">press release</a>, Hampton received a sentence of 2 years and 11 months in prison, while Kane received 3 years and 9 months. Nicole M. Argentieri, head of the DOJ’s Criminal Division, noted that the two colluded and used a trading bot to manipulate HYDRO’s price for their benefit, warning other fraudsters:
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “This prosecution and the sentences imposed today should serve as a warning:&nbsp; The Criminal Division will not hesitate to use all tools at its disposal—including the federal securities laws—to protect the integrity of cryptocurrency markets.”
</blockquote>
The DOJ stated that, according to court documents, Kane, the co-founder and chief executive of Hydrogen, and Hampton,…
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The Crypto Scam That Landed Two Executives in Prison

Coin Edition

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