Indian citizen Chirag Tomar has been sentenced to five years in prison for organizing a $20 million cryptocurrency scam involving a fake website mimicking the Bitcoin exchange Coinbase.

According to court documents, from at least June 2021 to December 2023, Tomar and his accomplices stole cryptocurrency from hundreds of victims through a fraudulent version of Coinbase Pro.

The proceeds from the scam were spent on a lavish lifestyle. The convicted individual purchased Rolex and Audemars Piguet watches, Lamborghini and Porsche cars, and traveled to London, Dubai, and Thailand.