Overview
- A New Haven grand jury indicted Elmin Redzepagic, 24, on January 20 on seven wire fraud counts, 11 international money laundering counts, and three false-statement counts.
- Prosecutors say he marketed himself as a high-return crypto investor, directed victims to send Bitcoin he controlled, and then transferred the funds to Stake.com for online betting.
- Investigators estimate about $950,000 in victim funds were lost on the gambling platform during activity alleged to have run from May 2021 through March 2025.
- Court records describe tactics including demands for withdrawal “gas fees,” references to a purported trading group led by “The Chef,” and large lulling payments to sustain trust.
- Redzepagic pleaded not guilty in Hartford federal court and was released on a $500,000 bond; IRS Criminal Investigation leads the probe, AUSA Susan Wines is prosecuting, and authorities note a maximum statutory exposure reported as 375 years with the presumption of innocence intact.