Nebraska Man Sentenced to 1-Year Prison for $3.5M Cryptojacking Scheme

Charles O. Parks III, also known as “CP3O,” was sentenced today in federal court in Brooklyn by U.S. District Judge Eric Komitee to one year and one day in prison for operating a large-scale illegal cryptojacking scheme in which he defrauded two cloud computing providers of over $3.5 million in computing resources to mine nearly $1 million in cryptocurrency.

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.