Investor Michael Terpin is suing a New York teenager for $71.4 in damages for allegedly stealing $23.8 million in cryptocurrency from him in 2022.

Information technology'due south the latest legal action in a long running saga. Ellis Pinsky of Irvington, New York, along with his co-conspirators reportedly managed to snatch $23.8 million worth of cryptocurrency in a SIM bandy from the plaintiff.

At the fourth dimension of the declared crime, Pinsky was just 15 and a representative for Terpin said he had returned $two million of the funds. Now he is 18 Terpin is suing for the remaining millions plus 3 times the damages under RICO for a grand total of $71.4 meg.

In May 2022, Terpin won a $75 million civil instance confronting Nicholas Truglia, an alleged co-conspirator of PInsky'southward. Reuters quoted Terpin in the court documents as saying:

"On the surface, Pinsky is an 'All American Boy'. The tables are at present turned."

Information technology's not articulate whether Pinsky'south has the money to compensate Terpin if the court decides in the plaintiff's favor.

Terpin'south legal battles

Terpin is as well involved in a legal quagmire with the AT&T. He has accused visitor officers of instilling inadequate security measures and is suing the visitor for $240 one thousand thousand. In a court filing his lawyers stated:

"Mr. Terpin's principal statement is that AT&T through its corporate officers and managing directors created an inadequate 'security' system that allowed its employees and contractors to bypass controls to implement SIM swaps."