GET RICH QUICK (AND ALSO TEMPORARILY): A crypto kid had a $23,000-a-month condo. Then the feds came. “Federal prosecutors said, the operation was a lie, essentially a Ponzi scheme that stole about $90 million from more than 100 investors to help pay for Qin’s lavish lifestyle and personal investments in such high-risk bets as initial coin offerings. At one point, facing client demands for their money, he variously blamed ‘poor cash flow management’ and ‘loan sharks in China’ for his troubles. Last week, Qin, now 24 and expressing remorse, pleaded guilty in federal court in Manhattan to a single count of securities fraud.”
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