Elmin Redzepagic Pleads Guilty in $1.16 Million Crypto Fraud Case

Elmin Redzepagic, 25, of Wolcott, Connecticut, pleaded guilty to federal fraud and money laundering charges in a cryptocurrency investment scheme that left more than 10 people with $1.16 million in net losses.

Redzepagic entered his plea in federal court in Bridgeport. The plea covered four charges: two wire-fraud counts, an international money-laundering count and a false-statement count involving IRS Criminal Investigation agents.

From about May 2021 through March 2025, Redzepagic solicited money by presenting himself as a cryptocurrency investor who earned high returns. After receiving victims’ funds, he told them their investments had gained value but that they needed to pay additional “gas fees” before withdrawing the purported profits.

He also told victims that a team member known as “The Chef” controlled payouts. Redzepagic sent their money to Stake.com, an offshore gambling platform, where he lost it gambling.

The combined net loss to more than 10 victims was $1,159,945.34. Redzepagic made false statements during a September 2023 interview with IRS Criminal Investigation agents. He was arrested Feb. 12 and remains free on a $500,000 bond.

Each wire fraud count and the money laundering count carries a maximum prison term of 20 years. The false-statement count carries a maximum of five years. Sentencing is scheduled for Jan. 11, 2027.