Influencer in the cryptocurrency field jailed for fraud scheme

A federal court in Brooklyn sentenced Charles Parks III (CP30) to prison for operating a large-scale cryptocurrency mining scheme worth millions of dollars. Parks misappropriated over $3.5 million in cloud computing services, illegally mining approximately $1 million in cryptocurrency from January to August 2021.

He set up many shell companies and fake emails to deceive suppliers into allowing access to large volumes of computing resources, falsely claiming the purpose was “global online training.” In reality, Parks used them to mine Ethereum, Litecoin, Monero, and then launder the money through exchanges, NFT markets, e-wallets, and banks. The profits were used to buy luxury cars, pay for travel, and stay in high-end hotels.

Parks often flaunt their “success” on social media, constructing a MultiMillionaire image. He pleaded guilty in December 2024, agreeing to forfeit $500,000 and a Mercedes-Benz. The compensation amount will be determined later.