US cryptocurrency hedge funds Founder admits to securities fraud

Stefan He Qin, Founder of US-based Virgil Sigma Fund and VQR Multistrategy Fund cryptocurrency hedge funds with more than $100 million in investments, has pleaded guilty to securities fraud. The US justice department said for years Qin stole investor money from Virgil Sigma, and later tried to steal investor money from VQR to pay back his investors at Virgil Sigma.