Man gets 15 months for $1.4M Telegram crypto scam

Noman Saleem, 39, of Queens and Levittown was sentenced Tuesday to 15 months in federal prison and three years of supervised release for a wire-fraud scheme that used Telegram to impersonate crypto influencers, the U.S. Attorney’s Office for the District of Maryland reported.

Prosecutors say the scheme began in December 2020. Saleem created Telegram accounts copying two popular crypto personalities, attracted thousands of followers to a public channel and then charged about $500 to $600 in cryptocurrency for access to a paid “VIP” chat where members believed they were speaking with the real influencers.

Inside the VIP group, Saleem offered alleged staking opportunities with promised returns over 30- to 90-day terms and told investors that larger investments would yield higher returns. No staking occurred, and Saleem cut off contact after receiving funds, according to court records.

Court documents show Saleem collected at least $1.4 million in crypto and cash, including money from a Maryland resident. After he pleaded guilty in September, federal authorities recovered a substantial portion of the proceeds in both cryptocurrency and cash. The FBI’s Baltimore field office investigated the case. U.S. District Judge Deborah K. Chasanow imposed the sentence.

Crypto staking typically involves locking tokens to help secure a blockchain in exchange for yield, with rewards often ranging from about 5% to 20%, depending on the token and network. In this scheme, prosecutors say no tokens were locked on behalf of investors.

Federal prosecutors have pursued other cases where impostor accounts and promises of passive returns were used to direct victims to fraudulent wallets. Saleem pleaded guilty to one count of wire fraud and will begin serving his prison term following the court’s order.