Crypto Influencer “TJ Stone” Sentenced to 45 Months for Wire Fraud
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Thomas John Sfraga, known as “TJ Stone,” has been sentenced to 45 months in prison for wire fraud after scamming crypto investors out of more than $1.3 million.
The U.S. Justice Department announced on March 14 that Sfraga, who pleaded guilty in May 2024, was sentenced in the Eastern District of New York.
Court records show Sfraga posed as the owner of multiple businesses—including “Vandelay Contracting,” a name lifted from the sitcom Seinfeld—and presented himself as a prominent emcee at crypto events in New York City.
He convinced investors to put money into a fake cryptocurrency “virtual wallet,” promising returns as high as 60% in three months. Instead of investing the funds, he used them for personal expenses and to pay off earlier victims and associates.
Sfraga’s conviction is part of a broader crackdown on crypto-related fraud in New York following the appointment of John Durham as interim U.S. Attorney by President Donald Trump. Other defendants in crypto fraud cases, including former SafeMoon CEO Braden John Karony, requested delays in their trials, citing the administration’s shifting approach to enforcement.
The Seinfeld reference isn’t the first time the crypto world has been linked to the show. Comedian Larry David, Seinfeld co-creator, starred in a now-infamous Super Bowl ad for the failed crypto exchange FTX in 2022. He later admitted he regretted endorsing the company after losing money when token prices crashed.
Since Trump took office in January, some high-profile crypto fraudsters reportedly explored the possibility of presidential pardons. Former FTX CEO Sam Bankman-Fried, serving a 25-year sentence, and ex-Binance CEO Changpeng Zhao, who completed a four-month term in 2024, are among those rumored to be considering appeals—though Zhao denied any interest in a pardon.
Roger Ver, nicknamed “Bitcoin Jesus” for his early promotion of cryptocurrency, also launched a campaign appealing to Trump for a pardon on charges of tax evasion and mail fraud.
Ver’s campaign draws parallels to Trump’s recent pardon of Ross Ulbricht, but reactions from the crypto community remain polarized. Some sympathize with Ver’s claims, while others argue he deserves to face legal consequences.