A crypto KOL sentenced to one year in prison for $3.5 million cloud mining fraud According to Cryptonews, crypto KOL Charles O. ParksIII has been sentenced to one year and one day in prison for committing large-scale cloud computing mining fraud. Between January and August 2021, Parks defrauded cloud service providers through false company identities, illegally mining and profiting nearly $1 million, involving Ethereum (ETH), Litecoin (LTC), and Monero (XMR). Previously, Parks had pleaded guilty and was ordered to surrender $500000 and a Mercedes Benz car. The prosecutor claimed that Parks converted the mining proceeds into cash through exchanges, NFT markets, and payment processors for luxury consumption.