Stefan Qin admits to almost $114 million cryptocurrency fraud, faces 20 years in US prison | The Canberra Times

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A Canberran “maths whiz” is facing up to 20 years in a United States prison after he admitted swindling his way to a New York penthouse by ripping off cryptocurrency investors to the tune of almost US$90 million (A$114 million). Stefan He Qin, 24, spent years orchestrating what has been described as “a reprehensible criminal scheme” in order to fund his “extravagant lifestyle”. But his house of cards ultimately came crashing down, and the Radford College graduate pleaded guilty to a securities fraud charge when he fronted the US District Court in Manhattan earlier this month. In a statement following the plea, the US Department of Justice said Qin committed the crime while in charge of two cryptocurrency investment funds he…