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CyberFraud Protection Firm Founder Defrauded Investors For Millions

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Adam Rogas, co-founder of a Las Vegas-based cyberfraud prevention company NS8, Inc., has been sentenced to five years in prison for defrauding investors for over $123 million, the Department of Justice announced on Thursday. Rogas tricked investors by falsifying financial statements showing inflated values of assets and revenue, most of which didn’t exist.

“Adam Rogas took the ‘fake-it-till-you-make-it’ saying to a criminal extreme,” said U.S Attorney Damian Williams. “While claiming to be in the fraud prevention business, Rogas himself faked nearly all of his company’s customers, revenue, and assets.” From January 2019 to February 2020, some 40 percent and 95 percent of the total purported assets of NS8 were false.

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