Wolcott man indicted in alleged crypto fraud tied to $950K of Stake.com gambling losses

A 24-year-old man with ties to Wolcott, Connecticut, is facing federal charges after prosecutors say he ran a crypto investment scam and funneled nearly $1 million of victims’ Bitcoin into online bets on the offshore gambling site Stake.com.

A grand jury in New Haven returned the 21-count indictment on January 20, and authorities unsealed it this week. Federal prosecutors allege that Elmin Redzepagic promoted himself as a skilled digital asset trader and persuaded people to send him Bitcoin with promises of strong, steady returns.