Fugitive, Disbarred Attorney Charged In $5M Bitcoin Fraud

Law360 (September 14, 2020, 8:34 PM EDT) — A disbarred attorney and a fugitive are facing charges of money laundering and commodities and wire fraud for allegedly pocketing more than $5 million from Bitcoin investors who never got the cryptocurrency they paid for.

Randy Craig Levine convinced investors to send millions to Philip Reichenthal, a then-licensed attorney in Florida and a purported escrow agent for the transactions, who then split the funds with Levine, according to a sealed complaint filed Sept. 10 in New York federal court and unsealed Monday.

The investors never received the Bitcoin they purchased and never had their funds returned, according to the complaint….