Steve Chen agreed to plead guilty to tax evasion and conspiracy to commit wire fraud in connection with the $147 million Gemcoin scheme.
One of the leaders of a Ponzi scheme that involved a fictitious cryptocurrency has been ordered to pay $74 million.
The judge scheduled a restitution hearing for victim investors for this summer.
An $100m class action lawsuit has been filed on behalf of victims of an alleged Ponzi scheme involving the fake cryptocurrency 'Gemcoin'.
A California company promoting a digital currency called GemCoin has had its assets seized by the US government amid allegations of fraud.