On 15 August 2025, the United States Department of Justice (DOJ) announced that crypto influencer Charles O. Parks III, also known as “CP3O,” was sentenced in the Eastern District of New York to one year and one day in prison for operating a large-scale cryptojacking scheme. Parks fraudulently obtained over $3.5 million in cloud computing resources, which he used to mine nearly $1 million in cryptocurrency. He pleaded guilty to wire fraud in December 2024. In addition to imprisonment, Parks was ordered to forfeit $500,000 and a Mercedes-Benz luxury car, with restitution to be determined.
The prosecution arose from Parks’ misuse of cloud computing services to conduct unauthorised cryptocurrency mining between January and August 2021. Parks used false names, shell entities, and misleading business justifications to deceive providers, gaining access to elevated computing resources without payment. He laundered proceeds through exchanges, an NFT marketplace, online payment services, and traditional banks. Funds were converted into luxury purchases, including jewellery, hotel stays, and high-end vehicles.
Statements by Enforcement Authorities
United States Attorney Joseph Nocella, Jr. stated: “Parks branded himself as an innovator and a thought leader, but in the end he was merely a fraudster whose secret to getting rich quick was lying and stealing.”
FBI Assistant Director in Charge Christopher G. Raia said: “Charles Parks III stole more than $3.5 million worth of resources to illegally mine another million in cryptocurrency for personal luxurious purchases.”
NYPD Commissioner Jessica S. Tisch added: “Charles Parks manipulated technology, stole millions in computer resources, and illegally mined cryptocurrency—and today’s sentencing holds him fully accountable for his deceitful actions.”
United States DOJ Sentencing Announcement
The US DOJ confirmed: “Earlier today in federal court in Brooklyn, Charles O. Parks III … was sentenced … for operating a large-scale illegal ‘cryptojacking’ operation.”
FBI Enforcement
The FBI stated: “While Parks gloated across social media platforms, he failed to mention his purported success was rooted in deceit and theft.”
NYPD Enforcement
The NYPD Commissioner declared: “We will continue to work with all of our law enforcement partners to bring to justice anyone who seeks to undermine the integrity of our financial institutions.”
