A September twenty first sentencing guideline has really helpful Michael Glaspie be sentenced to 46 to 57 months in jail (3.8 to 4.7 years).
Joint restitution of $54.6 million has additionally been tabled.
Of the $55 million the Mike G Deal took in (aka CoinDeal), Glaspie misappropriated $5.9 million.
Glaspie (proper) pled responsible to Mike G Deal legal prices in February 2023. Glaspie’s responsible plea noticed him acknowledge he stole $2.4 million from over 10,000 buyers.
Glaspie’s Sentencing Memorandum notes that, throughout sentencing negotiations, Glaspie raised a variety of objections that contradicted his responsible plea.
Particularly, Glaspie objected to
- the quantity of sentencing discount his plea deal afforded him;
- him misappropriating $2.4 million;
- him violating a beforehand issued stop and desist order from Michigan’s Firms, Securities and Industrial Licensing Bureau;
- him contacting Mike G Deal victims upon launch following his arrest; and
- being “ineligible for probation”
For essentially the most half, the DOJ fell again on Glaspie agreeing to his objections as a part of his plea deal.
E.g.
throughout the change of plea listening to, the Authorities offered a abstract of the related details, together with that “Mr. Glaspie misappropriated at the least $2,424,971 of investor funds for private functions, together with buying and selling cryptocurrency, paying his staff’ salaries, and shopping for a life insurance coverage coverage for a member of the family.
After the recitation of details, the Courtroom requested Glaspie if “all the proof described by [the Government is] the reality,” and Glaspie, underneath oath, responded, “Sure, Your Honor.”
Glaspie’s sworn testimony at his plea listening to, quite than his unsworn objections now, ought to be credited.
With respect to Glaspie contacting victims after his launch;
Glaspie, even after receiving discover from the PSR and the Courtroom’s Revised Tentative Findings about Glaspie’s contact with victims, nonetheless continued to speak with victims about different funding alternatives.
Glaspie’s offense degree calculation locations him in Zone D, which apparently renders him ineligible for probation.
In his personal sentencing memorandum, filed on August twenty fifth, Glaspie requested
a sentence of house confinement, primarily based on, amongst different issues, his “poor and declining well being” and his “means to stick to all the guidelines of supervised digital confinement.”
To which the DOJ responded;
Glaspie makes a wide range of representations relating to his medical situation, however he doesn’t present the underlying medical data.
His representations in his sentencing memorandum thus are complicated at greatest—for instance, it’s unclear if Glaspie solely has a mind scan with “could point out early Alzheimer’s illness” or if he has been formally identified with dementia.
Moreover, Glaspie’s situations, particularly his claimed dementia, haven’t thwarted him from perpetuating the charged scheme. In accordance with Glaspie, he “first seen problem with cognition in 2018,” however Glaspie’s prices right here didn’t start till 2020.
And regardless that Glaspie claims that he’s experiencing extra psychological acuity points now and that he has the “means to stick to all the guidelines of supervised digital confinement,” he seems to nonetheless be soliciting buyers, together with victims of this scheme, by way of e-mail to take part in different funding alternatives.
In abstract and in assist of a 46 to 57 month jail sentence, the DOJ concludes;
Glaspie’s punishment ought to take into consideration not solely the seriousness of his legal conduct, which is described above, but additionally the necessity to deter future criminals from committing such large-scale funding fraud.
Glaspie is scheduled to be sentenced on October 2nd, 2023.