Meta-1 Coin founder sentenced to 23 years for $20M scam that claimed the token was backed by $44B in gold and Picassos

Robert Dunlap, the Houston operator behind Meta-1 Coin, got 23 years for a $20M fraud he ran from 2018 to 2023. He told ~1,000 investors the token was backed by $44B in gold (with a faked accounting audit) and a $1B art collection of Picasso, Dalí, and Van Gogh — none of which existed. He ran wash-trading bots on his own "Meta Exchange" to spoof volume and forged documents to cover the fact he never held a single gram of gold or one canvas.

TLDR by @Benthic

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• Meta 1 Coin Trust, et al. - SEC.gov (sec.gov)
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