The Justice Department announced on Oct. 23 that Timothy Wadsworth received a 51-month federal prison sentence after his conviction for conspiracy to commit wire fraud and money laundering. A judge ordered him to pay $810,965.19 in restitution and forfeit $810,956.19 in wire fraud proceeds. The source does not give the year of the sentencing announcement.
Using account numbers supplied by co-conspirators, Wadsworth attempted 310 unauthorized payments totaling $1,673,578 through Stripe. Between March 10 and May 15, 2020, 116 initially succeeded, totaling $730,728.22; the source does not say they all remained successful. He moved a portion of the money through bank accounts to Coinbase, bought bitcoin and sent it to co-conspirators. His schemes from March 2020 through September 2021 involved approximately $2.06 million in combined actual and intended losses, not solely money victims lost.
