"Crypto-Fraudsters Face CFTC Charges for Millions in Scams"

William Ichioka, a former San Francisco resident, has agreed to plead guilty to wire fraud, aiding or assisting in the preparation of a false or fraudulent tax return, fraud in connection with the purchase and sale of securities, and commodities fraud in connection with his alleged investment fraud scheme involving cryptocurrencies and other investment vehicles that bilked victims out of millions of dollars. Ichioka admitted to fraudulently raising "tens of millions" of dollars from more than 100 people or entities, promising to invest in various securities and commodities, including cryptocurrencies, futures, derivatives, and foreign exchange currency transactions. He could face up to 68 years in prison and owes non-family investors at least $21 million and his family members more than $40 million.