Internet reports that the U.S. Federal Court for the Southern District of New York recently sentenced Long Island resident Eugene William Austin Jr. (also known as Hugh Austin) was sentenced to 18 years in prison on charges including conspiracy to wire fraud, money laundering and cross-state transportation of stolen property. The court found that Austin and his son Brandon Austin conspired to falsely promise victims to provide services such as large-value cryptocurrency transactions, short-term high-return investments, and introducing high-net-worth investors to start-ups, but actually defrauded funds for personal luxury consumption. Brandon Austin pleaded guilty in 2023 and was sentenced to four years in prison. The two men together caused more than 20 victims and accumulated losses of more than 10 million US dollars. Eugene Austin's sentencing date is set for February 20, 2025 and faces up to 45 years in prison.