Federal prosecutors have secured a guilty plea from a Connecticut man in a cryptocurrency fraud scheme that sent investor money to an offshore gambling site.
Elmin Redzepagic, 25, of Wolcott, pleaded guilty before U.S. District Judge Kari A. Dooley in Bridgeport to two counts of wire fraud, one count of international money laundering and one count of making a false statement to IRS agents, says the U.S. Attorney’s Office for the District of Connecticut.
From May 2021 through March 2025 the man solicited investments by claiming strong returns in digital assets and then demanded extra payments described as gas fees before any withdrawals could occur.
Victims were told a group including a figure called “The Chef” controlled decisions on payouts.
Instead of investing the money, Redzepagic routed it to Stake.com where he gambled and lost the proceeds, resulting in a combined loss of $1,159,945.34 for more than ten people.
He also gave false information to IRS agents during an interview in September 2023.
Redzepagic was arrested on February 12th and remains free on a $500,000 bond ahead of sentencing scheduled for January 11th, 2027.
The wire fraud counts each carry up to 20 years in prison while the money laundering charge carries the same maximum and the false statement count carries up to five years.
IRS Criminal Investigation conducted the inquiry and Assistant U.S. Attorney Susan Wines is handling the prosecution.
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