Ryan Ginster pleads guilty to wire fraud, faces 20 yrs in prison
My Micro Profits founder Ryan Ginster has plead guilty to one count of wire fraud.
Criminal charges were filed against Ginster (right) in November 2021. The DOJ alleged Ginster ran several MLM crypto Ponzi schemes – taking in over $5 million.
Following several delays, in October 2022 Ginster eventually pled not guilty to one count of wire fraud and five counts of engaging in monetary transactions.
By November Ginster had changed his mind, prompting a Change of Plea hearing scheduled for December 14th.
That hearing went ahead as scheduled yesterday, at which Ginster pled guilty to one count of wire fraud.
Ginster, 35, is facing up to 20 years in prison. Sentencing has been scheduled for March 29th, 2023.
Update 30th March 2023 – Ginster has been sentenced to 27 months in prison.