The Brooklyn U.S. Attorney’s Office said in a statement that from 2019 to 2022, Thomas John Sfraga, 55, “was the owner and president of multiple companies, including Vandelay Contracting Corporation and Build Strong Homes LLC. “I was doing it,” he announced.
George, a character from the TV show Seinfeld, [Costanza] Falsely claimed to have been interviewed for a fictitious company Vandelay Industries Co., Ltd.In this episode, the ever-unlucky Costanza claims to have been looking for a job as a latex salesman.
Prosecutors say Sfraga, who took on the role of crypto personality TJ Stone, pitched himself as a serial entrepreneur with experience in real estate development, media relations, podcasting and cryptocurrencies, including a New York-based entrepreneur. This included serving as a moderator and emcee for virtual currency events.
Prosecutors said Sfraga promised his victims a 60% return on investment over three months, but in reality used the funds to “pay for expenses and make payments to previous victims and business associates.” He said he used it for his own benefit.
Sfraga, a Brooklyn resident, pleaded guilty Thursday in Brooklyn federal court to wire fraud charges, prosecutors said.
He faces up to 20 years in prison and could be ordered to pay more than $1.3 million in restitution.
