Parks pleaded guilty to wire fraud in December 2024 and was ordered to forfeit $500,000 and a Mercedes-Benz purchased with proceeds from the scheme, with restitution to be determined later. Prosecutors charged Parks with wire fraud, money laundering, and unlawful monetary transactions, highlighting that he used multiple corporate aliases—including Multimillionaire LLC and CP3O LLC—to secure unauthorized access, then laundered the cryptocurrency through exchanges, an NFT marketplace, an online payment provider, and traditional bank accounts to fund luxury purchases.

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