Convicted Crypto Scammer Nicholas Truglia Sentenced to 12 More Years for Dodging $20M Restitution
Nicholas Truglia, a convicted cryptocurrency scammer, has been handed an additional 12-year prison sentence after failing to pay court-ordered restitution tied to a $20 million crypto theft.
The latest sentencing comes nearly two years after Truglia pleaded guilty to conspiracy to commit wire fraud. In 2022, he received an 18-month sentence for his role in a SIM-swapping scheme that allowed him and his associates to access a victim’s crypto wallet. The group drained the wallet and converted the stolen funds into bitcoin.
At the time of his plea, Truglia admitted to the theft and agreed to repay more than $20 million in restitution. Court proceedings revealed he possessed over $53 million in combined assets, including cryptocurrency, high-end art, and jewelry. Despite this, prosecutors say Truglia failed to make any payments toward his obligation.
Instead of paying restitution, court filings allege Truglia spent tens of thousands of dollars on luxury goods, including designer hoodies, sneakers, and expensive watches. An April 2024 court document stated that this pattern of spending showed a clear “intent never to pay his debt.”
U.S. District Judge Alvin Hellerstein, who presided over Truglia’s original sentencing, determined that re-sentencing was necessary. In a filing dated July 2, Hellerstein noted that Truglia not only ignored his restitution responsibilities but also “actively evaded” efforts by the court and law enforcement to enforce the payment.
Truglia’s legal team pushed back, arguing on July 9 that he had surrendered “every valuable asset he has access to,” including funds held in a Wells Fargo account. His attorneys also claimed the re-sentencing infringes on his constitutional rights, citing protections against double jeopardy and violations of due process.
Despite those objections, the court found Truglia’s actions to be willful and in bad faith, leading to the 12-year sentence added to his previous term.