Ex-SEC chair, now heading to SDNY, offers a rebuke in the $ 12m crypto fraud case

Jay Clayton, recently appointed Interim US Attorney for the Southern District of New York (SDNY) and former chairman of the Securities and Exchange Commission, began to offer statements in criminal cases involving crypto fraud.

In a notice on April 23, the US attorney office Says Eugene William Austin, also known as Hugh Austin, was punished for 18 years in prison following his convincing conspiracy to make wire fraud, conspiracy to make money laundering, and conspiracy to make interstate transportation of stolen ownership. Together with his son, Brandon, who has been sentenced to four years, Austin has offered fraudulent crypto investment services, resulting in approximately $ 12 million in losses to more than 24 people.

“For many years, Hugh Austin has been the leader of a scheme and money laundering scheme that steals more than $ 12 million from more than two dozen victims,” ​​Clayton said. “Austin included his own child in his crimes, working with him to deny the victims and spend investor money at personal costs, such as luxury hotels (…) Austin will be held responsible for the damage he caused to individual investors and others.”

The criminal case involving digital assets has marked one of Clayton’s first public statements since becomes a temporary US attorney On April 22. President US Donald Trump elected Clayton on January 20 when he was in office. Ever since the district saw the Resigning US acting attorney Danielle Sassoon In response to the Justice Department directing him to stop a case against New York City Mayor Eric Adams.

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