According to the DOJ, Charles O. Parks III stole cloud computing resources to mine crypto, generating nearly $1M in illicit gains spent on luxury goods; restitution remains pending.
Charles O. Parks III, known as "CP3O," has been sentenced to one year and one day in prison for a $3.5 million illegal crypto mining scheme. Prosecutors said Parks stole cloud computing power by posing as an educational platform and mined nearly $1 million in Ethereum, Litecoin, and Monero between January and August 2021. He laundered proceeds through exchanges and banks, spending on luxury goods like a Mercedes-Benz. The court ordered a $500,000 fine and forfeiture of the vehicle, with restitution yet to be set.