Nick Pasqual Indicted on Federal Charges for Alleged Multi-Million Dollar Cryptocurrency Fraud Scheme
SACRAMENTO, CA – March 13, 2025 – A federal grand jury today returned a 12-count indictment against 38-year-old Nick Pasqual of Sacramento, California, charging him with wire fraud, money laundering, and securities fraud in connection with an alleged multi-million dollar cryptocurrency investment scheme. Authorities say Pasqual, the former CEO of a now-defunct digital asset management firm, defrauded over 200 investors out of approximately $14 million between January 2023 and June 2024. The U.S. Attorney’s Office for the Eastern District of California alleges that Pasqual solicited funds for a purported "high-yield, low-risk" crypto trading platform, but instead transferred investor assets to personal accounts and used the money for luxury vehicles, real estate, and international travel. Pasqual was arrested Thursday morning at his residence without incident. He is scheduled to appear before U.S. Magistrate Judge Kendall J. Newman on Friday for an initial court appearance. If convicted, Pasqual faces a maximum statutory penalty of 20 years in federal prison for each wire fraud count. The Federal Bureau of Investigation and the Sacramento Police Department Cyber Crimes Unit are continuing to investigate.