Former semi-professional rugby player Shane Donovan Moore has been sentenced to 30 months in U.S. federal prison for orchestrating a cryptocurrency mining Ponzi scheme that defrauded over 40 investors of more than $900,000. Operating through his company Quantum Donovan LLC between January 2021 and October 2022, Moore leveraged his rugby connections across Washington, Utah, Oregon, Connecticut, and New Jersey to recruit victims.
Moore promised investors 1% daily returns from cryptocurrency mining operations, claiming funds would purchase mining hardware. Instead, he diverted money to finance luxury apartments, designer luggage, electronics, clothing, and travel. As revealed in the Department of Justice's July 17 statement, Moore sustained the scheme by using new investor funds to repay earlier participants—a hallmark Ponzi tactic.
U.S. District Judge Tana Lin emphasized the scheme caused "emotional and psychological damage" beyond financial losses. While exact restitution details remain undisclosed, court filings confirm victim losses exceeded $387,000. Acting U.S. Attorney Teal Luthy Miller noted Moore "used the newness of cryptocurrency to commit an age-old fraud."
This case reflects a broader pattern of crypto-related scams, coming weeks after Dwayne Golden received a 97-month sentence for a $40 million Ponzi scheme. FBI data indicates over 50% of 2024 crypto losses stemmed from investment fraud.