A 51-year-old man from South Lake Tahoe, Daniel Chartraw, has been indicted on 12 counts of wire fraud related to a cryptocurrency trading scheme, according to U.S. Attorney Phillip A. Talbert. Chartraw, who was recently arrested, is accused of deceiving investors through his companies, Crypto-Pal LLC and TDA Global, by falsely promoting a proprietary algorithm that promised high returns. Instead of investing the funds, he allegedly used the money for personal expenses and travel. The indictment, announced by the Eastern District of California, is the result of an FBI investigation. The prosecution is being handled by Assistant U.S. Attorney Jessica Delaney. If convicted, Chartraw could face a maximum sentence of 20 years in prison and a $250,000 fine, although various sentencing factors could influence the outcome.
