Texas man in $20M Meta-1 Coin fraud sentenced to 23 years in prison

A Texas man was sentenced to 23 years in prison for orchestrating a $20 million fraud involving Meta-1 Coin, which was falsely marketed as an investment backed by $44 billion in gold and $1 billion in artworks. The scheme operated from 2018 to 2023, with the assets claimed to back the coin being entirely fictional.