Texas Man Who Orchestrated $20 M. Crypto Scam Based on Fictitious Van Gogh and Picasso Masterpieces Sentenced to 23 Years in Prison
Robert Dunlap, 55, a Houston man, was sentenced to 23 years in federal prison for a cryptocurrency fraud scheme that claimed to be backed by masterpieces by artists such as Salvador Dalí, Vincent van Gogh, and Pablo Picasso. A federal jury in the Northern District of Illinois convicted Dunlap of mail fraud in 2025, and US District Judge LaShonda A. Hunt also ordered restitution after nearly 1,000 victims lost more than $20 million. From 2018 to 2023, Dunlap promoted “Meta-1 Coin,” falsely claiming it was backed by up to $1 billion in art and $44 billion in gold and using fake legal and insurance documents to support the story. The case was announced by officials including IRS Criminal Investigation special agent-in-charge Adam Jobes and Northern District of Illinois U.S. Attorney Andrew S. Boutros, with FBI Chicago special agent-in-charge Douglas S. DePodesta also cited.
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This story was covered in Restitution Reckonings and Scandals Shaking the Art World