Teen Has 'Strong Incentives to Flee' After Pleading Guilty to $245M Bitcoin Heist, Gov Says
The U.S. government opposes the release of 19-year-old Veer Chatel, who pled guilty to a $245 million Bitcoin heist. The government fears he may flee before sentencing to avoid testifying against co-conspirators. Chatel faces 19.5 to 24.5 years in prison and potential fines of $50,000 to $500,000. He was involved in a scam that tricked victims into revealing private keys, leading to the theft of funds from the Gemini exchange. Chatel laundered the stolen money and used it for luxury purchases. The FBI found $37 million in stolen crypto at his home, and he defrauded about 50 other victims for $3 million. The government cites strong incentives for Chatel to flee and acknowledges his admission of guilt. Twelve individuals have been charged in connection with the heist, with more conspirators potentially uncharged.
