A former semi-professional rugby player from Seattle has been sentenced to 30 months in prison for wire fraud related to a cryptocurrency mining Ponzi scheme. Acting U.S. Attorney Teal Luthy Miller announced the sentencing of Shane Donovan Moore, who operated Quantum Donovan LLC under false pretenses.
Moore claimed that his company was purchasing and operating cryptocurrency mining equipment. However, it was revealed that no such investments were made, and the operation functioned as a Ponzi scheme. Investments from later investors were used to pay off earlier ones.
During the sentencing hearing, U.S. District Judge Tana Lin addressed Moore’s actions, stating, “Most people have suffered serious trauma like you, but you have also had many opportunities and advantages that many people have not.” Judge Lin further noted the emotional and psychological damage inflicted on victims by Moore’s scheme.
“Mr. Moore used the newness of cryptocurrency to commit an age-old fraud – a Ponzi scheme,” said Acting U.S. Attorney Miller. She explained that Moore solicited over $900,000 from approximately 40 investors under the guise of investing in cryptocurrency mining operations. Instead, these funds supported his lavish lifestyle and paid off early investors to maintain the facade of legitimacy.
Between January 2021 and October 2022, Moore falsely promised returns based on nonexistent cryptocurrency mining machines. He mingled investor money with personal accounts and spent it on luxury items such as luggage, travel expenses, clothing, electronics, and a deposit for a luxury apartment.
Investors were recruited from various states including Utah, Oregon, Connecticut, New Jersey, and Washington—many being acquaintances from his rugby activities.
Assistant United States Attorney Brian Wynne requested a three-year sentence due to Moore’s misuse of victim-investor funds for personal expenses instead of purchasing cryptocurrency mining equipment. Victim-investors reportedly suffered losses exceeding $387,000.
The FBI conducted the investigation into this case which was prosecuted by Assistant United States Attorneys Brian Wynne and Casey Conzatti.
