the federal court in the southern district of New York recently sentenced Long Island resident Eugene William Austin Jr. (also known as Hugh Austin) to 18 years in prison, on charges including conspiracy to commit telecommunication fraud, money laundering, and interstate transportation of stolen goods. The court found that Austin conspired with his son Brandon Austin to make false promises to victims, offering large amounts of encrypted currency transactions, short-term high-return investments, and services to introduce high net worth investors to start-up companies, but actually used the funds for personal luxury consumption. Brandon Austin pleaded guilty in 2023 and was sentenced to 4 years in prison. The two caused more than 20 victims to collectively lose over $10 million. Eugene Austin's sentencing date is set for February 20, 2025, and he could face up to 45 years in prison.