South Lake Tahoe Man Indicted on 12 Counts of Wire Fraud in Cryptocurrency Trading Scam

SACRAMENTO, Calif. — A federal grand jury returned a 12-count indictment against Daniel Chartraw, 51, formerly of South Lake Tahoe, charging him with wire fraud, United States Attorney Phillip A. Talbert announced.  The indictment was unsealed this week after Chartraw’s arrest.

According to court documents, Chartraw was responsible for defrauding multiple victims in a cryptocurrency investment scheme.  Chartraw claimed that his companies, Crypto-Pal LLC and TDA Global, were developing and possessed a proprietary algorithm that was capable of generating exceptional returns on cryptocurrency investments.  However, instead of investing money from his victims as he promised, Chartraw used the money to fund his personal lifestyle and travel.

This case was the product of an investigation by the Federal Bureau of Investigations. Assistant United States Attorney Jessica Delaney is prosecuting the case.

If convicted, Chartraw faces a maximum statutory penalty of 20 years in prison and a $250,000 fine. Any sentence, however, would be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables. The charges are only allegations; the defendant is presumed innocent until and unless proven guilty beyond a reasonable doubt.