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New York Crypto Personality Used ‘Seinfeld’ Joke in Fraud: Feds
Thomas John Sfraga, 55, from 2019 to 2022 “represented himself as the owner and owner of numerous businesses, including Vandelay Contracting Corp. and Build Strong Homes LLC,” the Brooklyn U.S. Attorney’s Office said in a statement .
“On the TV show ‘Seinfeld,’ the character George [Costanza] falsely claimed to have interviewed for a job at the fictitious company Vandelay Industries,” notes the office. In the episode, the invariably hapless Costanza says that she was looking for a position as a latex salesman.
Sfraga, who took on the crypto personality of “TJ Stone,” presented himself as a serial entrepreneur with experience in real estate development, media relations, podcasting and cryptocurrencies, prosecutors said, including serving as an emcee or host of cryptocurrency events in New York.
Prosecutors said Sfraga promised victims a 60% investment return in three months, but in reality used the money for his own benefit “to pay expenses and to pay previous victims and business associates.”
Sfraga, who lives in Brooklyn, pleaded guilty Thursday in Brooklyn federal court to wire fraud, prosecutors said.
He faces a maximum sentence of 20 years in prison, as well as being ordered to pay more than $1.3 million in restitution.