Crypto Scammer Nicholas Truglia Gets 12 Years for $20M Failure to Pay Restitution

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Well, well, well, it seems our friend Nicholas Truglia has been playing a dangerous game of hide-and-seek with the law, and it didn’t end too well for him. After he *didn’t* pay the $20 million in restitution he owed to Michael Terpin, a crypto investor with more money than sense, his 18-month vacation in the slammer turned into a 12-year sentence. Looks like he wasn’t too good at the whole “pay your debts” thing. 🤑

On July 10, in a truly *not so shocking* turn of events, a New York federal judge decided that Truglia’s slap on the wrist was a bit too lenient. Instead of a quick getaway, Truglia was sentenced to 12 years in prison. How? Well, he wasn’t exactly on his best behavior. The man allegedly moved his stolen funds around, turned them into Bitcoin, and kept a cut of it all like a kid who thinks the candy store is their personal piggy bank. 🍬

The judge, Senior Judge Alvin K. Hellerstein, was not impressed. When Truglia was caught boasting about keeping his crypto stash even while behind bars, Hellerstein did the logical thing and said, “Well, if ten years are okay, how about we make it twelve?” Oh, sweet justice. ✨

The Truglia Timeline of Chaos

Let’s take a stroll through the timeline of Nicholas Truglia’s “criminal genius” career:

  • December 2022: Truglia, a spry 25-year-old, is sentenced to 18 months in prison for his role in a SIM-swap crypto scam. Total loot: over $20 million. Not bad for a day’s work.
  • May 2023: Truglia is arrested again after *allegedly* violating the terms of his release by spending his crypto loot on luxury goods. Apparently, he didn’t read the fine print. 📜
  • November 2024: Despite all the *contempt of court* drama, Truglia is released again on the condition he pays the restitution. Spoiler alert: He doesn’t. He holds onto around $673,000 of the stolen goods instead. Nice try, buddy.

So, what happened? Truglia managed to gain access to Terpin’s emails and accounts after hijacking Terpin’s phone number through a SIM swap. Because why not make it easy for yourself, right? Just one little swap and boom, you’re the proud owner of $20 million in crypto. That’s a business model, if I ever heard one.

But in the end, it’s going to be 12 long years behind bars for Truglia. Let this be a lesson to all aspiring criminals: the scam may be sweet, but the sentence? Not so much. 🙃

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2025-07-11 10:28