The founder of the cryptocurrency fund Translunar was sentenced to 37 months in prison for tax evasion, involving the concealment of $7 million in income

Justin Ryan Schmidt, the founder of the cryptocurrency investment fund Translunar Crypto LP, has been sentenced to 37 months in prison by a U.S. court for tax evasion. The U.S. Department of Justice stated that the 46-year-old Schmidt pleaded guilty this year in federal court in Austin, Texas, where he was accused of underreporting income, declaring less than $5,000 in income from 2020 to 2022, while prosecutors claimed he actually earned over $7 million through fund operations from 2019 to 2022.

It is reported that Schmidt founded Translunar in 2017, primarily investing in blockchain startups, with funding mainly coming from investors in the Austin area of Texas and Aspen, Colorado. He was arrested by the IRS Criminal Investigation Division on February 23, 2026, and has been in custody since then.