Gumshoe-Turned-Crypto Maven Set To Cop Plea In Fraud Rap

By Pete Brush (July 21, 2021, 4:36 PM EDT) -- A California private detective who became a crypto promoter is set to plead guilty to fraud charges, a Brooklyn federal judge heard Wednesday, after prosecutors said he siphoned $11 million in an investment scheme that falsely associated itself with a well-known NBA basketball player.

During a virtual hearing before U.S. District Judge LaShann DeArcy Hall, the Brooklyn U.S. attorney's office and counsel for defendant John DeMarr said DeMarr has an "agreement in principle" to plead out.

"We're just working out the details," prosecutor David Pitluck said — a statement that was seconded by DeMarr's counsel, Thomas Sjoblom.

DeMarr, of Santa Ana,...

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