Crypto Thief Gets 12 Years After Dodging $20 Million Repayment Deal

The ruling, according to a July 11 report by Bloomberg, came after Truglia ignored a court order to return over $20 million he took in a 2018 scheme.

Truglia was first sentenced in 2022 and received an 18-month prison term, followed by three years of supervised release, along with an agreement to repay the stolen funds.

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At the time, he claimed he was willing and able to repay the full amount, with evidence showing he held assets valued at more than $61 million. However, court documents reveal he never sent any repayment and actively avoided efforts to collect the money.

In his order filed July 2, Judge Hellerstein wrote, "Mr. Truglia demonstrated a willingness to repay his victim the entire amount stolen. Despite evidence at the original sentencing that he owned assets worth $61,830,828.10, well above the imposed restitution obligations <...> he made no restitution payments".

Prosecutors stated that Truglia’s refusal to pay and his attempts to evade enforcement efforts justified the harsher punishment.

The theft dates back to a SIM-swapping attack on Terpin’s phone number. By convincing mobile carrier staff to transfer the number to a SIM card he controlled, Truglia was able to intercept one-time security codes and access Terpin’s cryptocurrency accounts.

Recently, Raymondip Bedi and Patrick Mavanga were jailed for a total of 12 years in the UK for running a fake crypto investment scheme. How did the case unfold? Read the full story.