WOND News

Corrections Officer Securities Fraud

A former corrections officer from Linwood pleaded guilty Monday to securities fraud for leading two schemes, including a cryptocurrency scheme that cost law enforcement more than $600,000, the U.S. Attorney’s Office said.John DeSalvo, 47, faces 20 years in prison and a fine of $5 million when sentenced Aug. 6.DeSalvo was the creator of a digital token known as Blazar Token, which he marketed to police, firefighters, EMTs, and other first responders as a way to supplement existing pension plans.

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