A federal grand jury has indicted Daniel Chartraw, 51, a former resident of South Lake Tahoe, on 12 counts of wire fraud related to a cryptocurrency trading scheme. The indictment was announced by United States Attorney Phillip A. Talbert and unsealed following Chartraw's arrest.
Court documents allege that Chartraw defrauded several victims through an investment scheme involving his companies, Crypto-Pal LLC and TDA Global. He reportedly claimed these companies had developed a proprietary algorithm capable of delivering exceptional returns on cryptocurrency investments. Instead of investing the funds as promised, Chartraw allegedly used the money for personal expenses and travel.
The investigation was conducted by the Federal Bureau of Investigations, with Assistant United States Attorney Jessica Delaney handling the prosecution.
If found guilty, Chartraw could face up to 20 years in prison and a $250,000 fine. However, any sentence would be determined by the court based on statutory factors and Federal Sentencing Guidelines. It is important to note that these charges are allegations, and Chartraw is presumed innocent until proven guilty beyond a reasonable doubt.