Prosecutors only sought a five-year probation sentence for crypto schemer David Kagel because of his age and ailing health.
An 86-year-old former California attorney has been sentenced to five years probation and ordered to pay nearly $14 million after admitting to carrying out a multimillion-dollar crypto Ponzi scheme.
In the Oct. 8 judgment filed by Las Vegas federal court judge Gloria Navarro sentenced David Kagel after he pleaded guilty to one count of conspiracy to commit commodity fraud in May.
Kagel is currently in hospice care at a seniors facility in Las Vegas due to ailing health, where he will serve out his probation unless he leaves — where he will be required to wear a monitoring device.
