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Fountain Hills Man Agrees to Pay $30M in Cryptocurrency Scam Restitution

Guavy AI Editorial Team
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A 48-year-old man from Fountain Hills has agreed to pay $30 million in restitution for his role in a cryptocurrency investment scam. Jeremie Andrew Sowerby pleaded guilty to wire fraud and admitted to defrauding hundreds of victims between 2017 and 2023.

The scam, which operated under the guise of three entities - Now Mining, VIP Mining, and Millennium Technologies - targeted around 400 individuals during its peak in 2017 and 2018. Sowerby's plea resolves charges filed against him in three separate criminal cases, with sentencing scheduled for October 14.

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