Abramoff Pleads Guilty To Lobbying Violation, Crypto Fraud

By Hannah Albarazi (July 14, 2020, 7:35 PM EDT) -- Political lobbyist Jack Abramoff pled guilty Tuesday in California federal court to violating the Lobbying Disclosure Act and conspiring to defraud investors out of millions of dollars in what Abramoff and his alleged co-conspirator claimed to be a new and improved version of bitcoin.

Abramoff, 61, pled guilty to conspiracy to commit wire fraud and to violating the Lobbying Disclosure Act, marking the first known prosecution of a lobbyist for a criminal violation of the act.

"Guilty, your honor," Abramoff told U.S. District Judge Richard Seeborg during a hearing via telephone.

Abramoff told Judge Seeborg that the allegations against him are...

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