Connecticut Man Pleads Guilty to Crypto Fraud Scheme Involving Offshore Gambling Site

The Daily Hodl reported that federal prosecutors secured a guilty plea from Elmin Redzepagic, 25, of Wolcott, Connecticut, in a cryptocurrency fraud scheme. Redzepagic pleaded guilty before U.S. District Judge Kari A. Dooley in Bridgeport to two counts of wire fraud, one count of international money laundering, and one count of making a false statement to IRS agents. From May 2021 through March 2025, he allegedly solicited investments by promising strong returns in digital assets and demanded additional payments described as gas fees before allowing withdrawals. Victims were told a group including a figure called "The Chef" controlled payout decisions. Instead of investing, Redzepagic routed funds to the offshore gambling site Stake.com where he gambled and lost the proceeds, resulting in combined losses of $1,159,945.34 for more than ten people. He also provided false information to IRS agents during a September 2023 interview. Redzepagic was arrested on February 12 and remains free on a $500,000 bond ahead of sentencing scheduled for January 11, 2027. The wire fraud and money laundering charges each carry up to 20 years in prison, while the false statement count carries up to five years. IRS Criminal Investigation conducted the inquiry and Assistant U.S. Attorney Susan Wines is handling the prosecution.