Justin Ryan Schmidt, founder of crypto investment fund Translunar Crypto LP, has been sentenced to 37 months in prison in a U.S. tax evasion case. According to the U.S. Department of Justice, Schmidt, 46, pleaded guilty this year in federal court in Austin, Texas. Prosecutors said he underreported his income from 2020 to 2022, filing returns that showed less than $5,000 in income, while actually earning more than $7 million through fund-related business between 2019 and 2022. Schmidt founded Translunar in 2017. The fund mainly invested in blockchain startups and drew capital primarily from investors in Austin, Texas, and Aspen, Colorado. The Internal Revenue Service Criminal Investigation unit arrested him on Feb. 23, 2026, and he has remained in custody since then. Bloomberg was cited as the source of the report.
Justin Ryan Schmidt, founder of crypto investment fund Translunar Crypto LP, has been sentenced by a U.S. court to 37 months in prison for tax evasion.
The U.S. Department of Justice said Schmidt, 46, pleaded guilty this year in federal court in Austin, Texas. He was accused of underreporting his income from 2020 to 2022, with filings showing less than $5,000 in income. Prosecutors said he actually made more than $7 million through fund business from 2019 to 2022.
Schmidt founded Translunar in 2017. The fund mainly invested in blockchain startups, with capital coming primarily from investors in Austin, Texas, and Aspen, Colorado.
The Internal Revenue Service Criminal Investigation unit arrested Schmidt on Feb. 23, 2026, and he has remained in custody since then. Bloomberg was cited in the report.
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