( WJET/WFXP ) — A Colorado man initially from Pennsylvania has been sentenced after pleading guilty to stealing millions of dollars in cryptocurrency from a Pennsylvania woman.
A Philadelphia-area judge sentenced 47-year-old Adam Davis, originally of Coatesville, PA, to 33 months in prison followed by three years of supervised release and must pay approximately $2.1 million in damages after pleading guilty to a single count of wire fraud in January.
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According to United States Attorney Jacqueline C. Romero, Davis was hired to assist a Bucks County woman in managing the $395,000 she had invested, giving him access to her digital wallets between January 2014 and May 2021.
During that time, Davis transferred a total of $2.1 million in crypto from her account to his and dragged it through numerous other accounts to cover up his theft with the assets he stole — eventually appreciating in value to more than $8 million in January 2021.