Robert Dunlap Sentenced to 23 Years for Defrauding Investors in Meta 1 Coin Scam
Robert Dunlap has been sentenced to 23 years in prison for orchestrating a cryptocurrency scam that defrauded over 1,000 investors out of more than $20 million. Between 2018 and 2023, Dunlap promoted a digital asset called 'Meta-1 Coin' through various channels, including social media and seminars. He falsely claimed that the coin was backed by $44 billion in gold and a $1 billion art collection, and promised returns as high as 224,923%. Despite these assurances, no coins were ever distributed, and investor funds were used for Dunlap's personal luxury purchases, such as a Ferrari. The scam continued even after the SEC filed a civil fraud action against Dunlap in 2020, which did not deter him from continuing his fraudulent activities until a criminal case was initiated in 2024. 
