Police in Wyoming have issued an arrest warrant for Kevin Segal, a self-proclaimed “Bitcoin billionaire,” over a $50,000 bond scam. Segal, a 30-year-old California resident, is accused of swindling businesses in Wyoming out of more than $212,000. If convicted, he could face up to 141 years in prison.
According to prosecutors, Segal posed as a wealthy businessman looking to purchase millions in real estate in the Jackson Hole area. However, he allegedly left a trail of unpaid bills at luxury resorts and businesses. Judge Bill Simpson issued a bench warrant across all 50 states after Segal failed to appear for a court hearing and did not surrender his passport as ordered.
The scam reportedly involved Segal’s friend, Jason Irvine, who posted the $50,000 bond for him. Irvine claims that Segal promised him a large Bitcoin payout in exchange for posting the bond but disappeared after being released from jail on February 14. Feeling betrayed, Irvine sent Segal a text message expressing his disappointment and financial distress.
Investigators discovered a pattern of fraudulent activities throughout Wyoming, including unpaid bills at luxury resorts and businesses. Segal allegedly left bills unpaid at the Amangani resort, Spring Creek Ranch, and the Mangy Moose Saloon. He also reportedly hired individuals for services and failed to reimburse them as promised.
This is not Segal’s first legal trouble, as court documents show he previously faced a civil lawsuit for falsely claiming to have stocks exceeding $340 million. If caught, Segal will face a substantially increased bond of $750,000 cash-only.
The case highlights the risks associated with cryptocurrency investments and the importance of due diligence when dealing with individuals claiming to be wealthy Bitcoin investors. Authorities are urging anyone with information on Segal’s whereabouts to come forward and assist in his apprehension.