Key facts
- Noman Saleem was sentenced to 15 months in prison for a wire-fraud scheme.
- He impersonated crypto influencers on Telegram to lure victims into a fake staking opportunity.
- Saleem defrauded investors of at least $1.4 million.
- The government recovered a significant portion of the stolen funds.
- Saleem pleaded guilty to wire fraud in September.
Noman Saleem, 39, of Queens and Levittown, New York, has been sentenced to 15 months in prison and three years of supervised release for orchestrating a wire-fraud scheme that defrauded investors of at least $1.4 million. Saleem impersonated well-known cryptocurrency influencers on Telegram, creating fake profiles and channels to gain victims' trust. He lured them into a fraudulent crypto staking opportunity, promising guaranteed returns. Investors paid fees for access to a "VIP" channel where Saleem advertised these bogus investments. He never actually staked any funds, instead absconding with the cryptocurrency and cash sent to wallets he controlled. Prosecutors stated that much of the stolen money was recovered by the government after Saleem pleaded guilty last September. The U.S. Attorney's Office for the District of Maryland announced the sentencing, which was handed down by U.S. District Judge Deborah K. Chasanow. The FBI's Baltimore field office investigated the case, which highlights a trend of crypto-related fraud leveraging the names of trusted figures and the appeal of passive income.