Fountain Hills Man Pleads Guilty to Cryptocurrency Fraud Schemes

A Fountain Hills man has pleaded guilty to running multiple cryptocurrency fraud schemes that defrauded hundreds of people out of more than $7.5 million.

Jeremie Andrew Sowerby, 48, admitted to scamming victims through several investment schemes from 2017 to 2023.

The schemes included Now Mining, VIP Mining, Millennium Technologies, and others, with Sowerby convincing people to invest in cryptocurrency mining machines that did not exist.

He also targeted high-income earners through a company called Justice Capital, marketing access to hedge funds that used a 'bot' algorithm, but ultimately defrauding one person of $207,000.

Sowerby will pay restitution of up to $30 million as part of his plea deal and is scheduled for sentencing on October 14.