A crypto influencer, Charles O. Parks III, has been sentenced to over a year in prison for a multi-million dollar cryptojacking operation. He defrauded two cloud computing providers of over $3.5 million in resources by tricking them into granting elevated computing privileges to mine nearly $1 million worth of Ether, Litecoin, and Monero.

Parks used fake corporate identities like “MultiMillionaire LLC” and “CP3O LLC” to deceive cloud providers. He pleaded guilty to wire fraud in December after laundering the mined crypto through exchanges, NFT marketplaces, and banks. The crypto was converted into cash to fund luxury purchases, including a Mercedes-Benz, jewelry, and first-class travel.

Prosecutors stated that Parks boasted online about his profits to build a reputation as a crypto influencer. He offered a subscription-based self-improvement program on his website, promoting a “MultiMillionaire Mentality” with rewards paid in his crypto token. However, US Attorney Nocella Jr. revealed that Parks was merely a fraudster, not an innovator or thought leader.

Read more at Cointelegraph: Cryptojacker Gets 1 Year For $3.5M Fraud Sceme