A New York man has been sentenced to 15 months in prison and three years of supervised release for orchestrating a cryptocurrency fraud scheme on Telegram. Noman Saleem, 39, pleaded guilty to wire fraud in September 2025 after prosecutors revealed he had created multiple fake Telegram accounts impersonating well-known crypto influencers (KOLs) and lured thousands of victims into his channels with promises of guaranteed returns from crypto staking and other investment opportunities.
Fraud Scheme: Impersonation and Fake Staking Promises
According to the indictment, Saleem set up these fraudulent accounts to attract a large following, then offered paid “VIP sub-channels” where participants were assured fixed profits. Victims transferred digital assets to wallets controlled by Saleem, believing their funds would be deployed in legitimate staking operations. In reality, prosecutors said, Saleem never conducted any staking activities. Instead, once he obtained the funds, he ceased all communication and absconded with the assets.
The scheme inflicted losses exceeding $1.4 million. The U.S. government has since traced, recovered, and seized the majority of the stolen funds.
Legal Consequences and Warning
The court sentenced Saleem to 15 months behind bars followed by three years of supervised release. The case underscores the U.S. judicial system's tough stance on crypto-related fraud. It also serves as a cautionary tale for investors: promises of “guaranteed returns” from social media figures, especially on platforms like Telegram, should be treated with extreme skepticism. Verifying the identity of purported KOLs and avoiding unverified investment schemes remain critical safeguards in the digital asset space.