ing to prosecutors.

In addition, MacDonald faces wire fraud charges for allegedly soliciting $2 million from investors under the guise of developing digital trusts for the business. Prosecutors said MacDonald instead spent the money on luxury items, including a Rolls-Royce Ghost and a down payment on a yacht, while under a court injunction prohibiting him from selling unregistered securities.

Facing decades in federal prison

All four defendants face up to five years in prison if convicted on the charge of conspiracy to defraud the United States, alongside additional counts carrying varying prison terms:

MacDonald: Charged with tax evasion (up to 5 years per count), wire fraud (up to 20 years per count), transactions involving criminally derived property (up to 10 years per count), and aiding in the preparation of false returns (up to 3 years per count).

Duren: Charged with tax evasion (up to 5 years per count).

Cayce: Charged with filing a false return and aiding in false returns (up to 3 years per count).

Weickgenant: Charged with corrupt interference with the IRS and aiding in false returns (up to 3 years per count).

The case was investigated by IRS Criminal Investigation and is being prosecuted by Assistant U.S. Attorney Eric B. Chen along with prosecutors from the Justice Department's National Fraud Enforcement Division. An indictment is an accusation, and all defendants are presumed innocent until proven guilty in court.