Brooklyn Man Pleads Guilty to $1.34M Fraud Using Fake 'Seinfeld' Company

Thomas John Sfraga, also known as T.J. Stone, admitted to defrauding investors through bogus real estate and cryptocurrency schemes.

Sfraga promised high returns by claiming to invest in real estate projects and a fictitious cryptocurrency wallet.
He used the name Vandelay Contracting Corp., inspired by a fictional company from 'Seinfeld.'
Victims included friends, neighbors, and investors who lost their life savings.
Sfraga faces up to 20 years in prison and must pay $1.34 million in restitution.
U.S. Attorney Breon Peace emphasized the brazen nature of Sfraga's lies and the impact on victims.