Crytpto Scamster's Long Island Dynasty
Father-son duo from Long Island receive 18-year sentence for $12 million cryptocurrency scam
Meet Eugene William Austin Jr., better known as "Hugh Austin", the man behind a jaw-dropping $12 million crypto fraud scheme, snaring a sweet 18-year prison sentence.
Having lived on Long Island, Austin and his cunning partner-in-crime, son Brandon, masqueraded as cryptocurrency brokers to swindle entrepreneurs and investors. Convicted of wire fraud, money laundering, and interstate transportation of stolen property in 2024, the 62-year-old mastermind left quite an impression on a jury trial[1].
Eugene, along with his crafty son, lured victims into investing in fictitious cryptocurrency deals, with one BTC jackpot reaching a staggering $5 million[2][3]. This wasn’t an isolated incident – the duo orchestrated an array of con jobs worth hundreds of thousands of dollars.
The Austin duo promised quick returns on crypto investments and assured they could secure funding for startups and small businesses by tapping into a network of wealthy elites. Germinating their scam in the lush Long Island vineyards, more than 24 victims found themselves ensnared, many of whom were gripped by the family's familiar charm[4].
Embracing a life of luxury, the Austin family’s ill-gotten gains funded opulent hotels, mouthwatering meals, extravagant shopping sprees, and unnecessary transfers of dough to family members. As police pounced, Austin was stripped of his 2022 E-Pace P250 Jaguar SUV[1].
Brandon Austin, an active accomplice in the scheme, had already served a four-year sentence[1]. The elderly scamster was also ordered to surrender over $6 million in assets, repay a terrifying $12 million in restitution, and face supervised release for three years following his prison stint[3].
This crypto-fueled con isn't the largest heist to seen on Long Island in recent years. That notorious title belongs to Eddy Alexandre, who, in 2022, took the cake with a nine-year prison sentence for a $248 million crypto ponzi scheme[5].
Alexandre managed to dupe over 25,000 investors, many hailing from the Haitian community on Long Island, into trusting his sham crypto and foreign exchange trading platform, EminiFX[5]. His fraudulent scheme promised 5% returns, but in reality, it left investors holding the very crypto bag[5].
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[1] https://www.justice.gov/usao-edny/pr/long-island-resident-sentenced-18-years-prison-role-multimillion-dollar-cryptocurrency[2] https://www.justice.gov/usao-edny/pr/long-island-resident-brandon-austin-sentenced-prison-role-multimillion-dollar[3] https://www.newsday.com/long-island/crime/fathers-and-sons-12m-crypto-fraud-scheme-eugene-william-austin-jr-1.23023659[4] https://www.justice.gov/usao-edny/pr/long-island-resident-eugene-william-austin-jr-convicted-12-million-cryptocurrency-fraud[5] https://www.justice.gov/usao-edny/pr/long-island-man-sentenced-nine-years-prison-248-million-crypto-ponzi-scheme[6] https://www.dailydebrief.com/newsletter/
- Eugene William Austin Jr., known as "Hugh Austin", was involved in a crypto fraud scheme worth $12 million, for which he received an 18-year prison sentence.
- Austin and his son, Brandon, pretended to be cryptocurrency brokers to defraud entrepreneurs and investors, promising quick returns on crypto investments.
- The Austin duo promised to secure funding for startups and small businesses by tapping into a network of wealthy elites, but their cryptocurrency deals were fictitious.
- More than 24 victims were ensnared in the Austin family's scam, many of whom were lured by the family's charm.
- The Austin family's ill-gotten gains were used to fund opulent lifestyles, including luxurious hotels, dining, shopping sprees, and transfers of money to family members.
- Brandon Austin, an active accomplice in the scheme, had already served a four-year sentence.
- Eddy Alexandre, another Long Island resident, was sentenced to nine years in prison for a $248 million crypto ponzi scheme, a notorious title among recent Long Island heists.
