He touted his investment strategies to me risk-proof but ended up in embezzlement. : The Southern District of New York passed its judgment on Stefan He Qin, who ran a $90 million crypto hedge fund, sentencing him for 90 months in jail for defrauding his investors. He was also ordered to forfeit almost $54.8 million. Announced on Wednesday, the judgment came after Qin plead guilty to one count of securities fraud earlier in February after he was charged by the US Securities and Exchange Commission (SEC) at the end of last year.