Ex-Deutsche Bank Banker Will Plead Guilty to Crypto Fraud (1)

Former Deutsche Bank investment banker Rashawn Russell, who has denied defrauding investors in a cryptocurrency fraud, appears ready to change his mind and plead guilty to fraud charges, court records show.

Russell was indicted in April by federal prosecutors in Brooklyn, New York, accused of duping investors by promising them “guaranteed returns.”

After repeated postponements for Russell’s lawyers to engage in plea negotiations with the government, US Magistrate Judge Sanket Bulsara on Friday ordered Russell to appear Sept. 19 for a “change of plea” hearing.

This means Russell now intends to plead guilty, said a person familiar with the matter ...