A New York federal court has extended the prison sentence of Nicholas Truglia, a key figure in one of the largest SIM-swap fraud cases, from 18 months to 12 years. The reason: willful refusal to repay $20.4 million in damages.
Truglia had access to sufficient assets — from crypto holdings to luxury goods — but deliberately avoided compensation. The victim, investor Michael Terpin, lost over $22 million after Truglia hijacked his SIM card and accessed his digital accounts.
Judge Alvin Hellerstein stated the lenient original sentence was based on good faith expectations. But after two years and no restitution, the court saw fit to increase the penalty.
This ruling sends a clear signal: ignoring court orders in crypto-related financial crimes will carry severe consequences. For the industry, it sets a critical precedent — justice means not just measuring damage, but enforcing accountability.
