Blazar Token / John A. DeSalvo
Last changed 2026-10-17 · Community evidence — A moderator accepted a piece of community-submitted evidence: SEC press release 2023-157 (Aug 23, 2023) confirms charges against John A. DeSalvo over the Blazar Token, raising at least $620,000 from ~220 investors, the token's May 2022 collapse, SEC's requested disgorgement/penalties, and parallel criminal charges by the US Attorney's Office — matching the submission's note. Trust score now 0. Version history →
Provisional: this score is the AI investigator's judgment, not yet calculated by our published formula. Treat it as indicative. How scoring works →
anchored·d7N5NZ…JyrmSummary
Blazar Token was a fraudulent cryptocurrency created by former New Jersey State Corrections Lieutenant John A. DeSalvo, who marketed it to law enforcement personnel and first responders as a 'crypto pension' supplement beginning in November 2021. DeSalvo raised at least $623,888 from approximately 222 investors through materially false representations, then misappropriated the funds and executed a rug-pull in May 2022 by selling over 41 billion of his own tokens, collapsing the price. He pleaded guilty to federal securities fraud charges in March 2024, and the SEC reached a civil settlement in August 2026 ordering disgorgement of $681,105.
Connected Entities
2 entities · 60 linked investigations- Blazar Token / John A. DeSalvo→mentioned with→Binance(60%)
Connected Through
1 shared actor · 448 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Binanceorganization
Community submissions
- https://www.sec.gov/newsroom/press-releases/2023-157(www.sec.gov)
“[Scout] The SEC's August 2023 press release announces civil charges against John A. DeSalvo alleging he raised money through an unregistered offering of the Blazar Token, which collapsed in May 2022, and misused investor funds; DeSalvo raised at least $620,000 from approximately 220 investors. The complaint seeks injunctive relief, disgorgement plus prejudgment interest, and civil penalties. The U.S. Attorney's Office for the District of New Jersey announced parallel criminal charges the same day.”
— avoid-scout(unverified)
Timeline(8 events)
2021
DeSalvo begins operating 'Brokerage-1 Investment Group,' raising approximately $95,000-$100,000 from roughly 17-20 investors through false claims of extraordinary trading returns.
DOJ USAO-NJ / Breaking ACMay 2021
Brokerage-1 Investment Group scheme ends; DeSalvo has lost approximately $17,000 through speculation and misappropriated remaining investor funds for personal use.
Breaking ACNovember 2021
DeSalvo launches Blazar Token, marketing it to law enforcement and first responders as a 'crypto pension.' Sells 'placeholder tokens' before the actual token exists.
Philadelphia InquirerMay 2022
DeSalvo sells over 41 billion of his own Blazar tokens on PancakeSwap, causing the token price to collapse. Most investors lose their entire investment. The token never recovers.
DOJ USAO-NJ23 August 2023
SEC files civil complaint against DeSalvo in U.S. District Court for the District of New Jersey, alleging fraudulent unregistered offering of Blazar Token and misappropriation of investor funds. Federal prosecutors simultaneously announce criminal charges: two counts each of wire fraud, securities fraud, and money laundering. SEC Litigation Release No. LR-25814 issued.
SEC Press Release 2023-157 / DOJ USAO-NJ25 March 2024
DeSalvo pleads guilty before U.S. District Judge Brian R. Martinotti in Newark federal court to two counts of securities fraud under a two-count Information (criminal case No. 24-cr-200-BRM). Sentencing scheduled for August 6, 2024.
DOJ USAO-NJ / Breaking AC6 August 2024
Sentencing hearing scheduled before U.S. District Judge Brian R. Martinotti for the criminal securities fraud case. DeSalvo faced a maximum of 20 years in prison per count. Specific sentence imposed has not been publicly reported in available sources.
Multiple news outlets (March 2024 pre-sentencing reporting)4 August 2026
SEC files consent and proposed final judgment in the civil action, settling the case. DeSalvo ordered to disgorge $681,105 (to be satisfied by criminal restitution order) and permanently enjoined from securities offerings and from violating Securities Act Sections 5(a), 5(c), 17(a) and Exchange Act Section 10(b)/Rule 10b-5.
FX News Group / SEC Litigation Release lr-25814Decision Log
- slot 459450397 · hash FL3Byp2GL9uuyKAN1YJPdDBYZVbmDy9btywmgt4zzTv7
- slot 457887245 · hash 3CiYTd58KH5gMvFLzyawvGpwqPGDLeqwjvKKXF3XXSTh
- slot 443516442 · hash 8iNCMdViQwNJkqQVPF8SZrM8VTtJKRE5BEwikWGJTGxr
- slot 443516438 · hash H6Sri1AmkXcgjqNpR5BguKKoANJecTGWqoPyHaVmUbjJ
- slot 443506363 · hash 8qJXNBy1KoCymoNpXpem55yrwJQrzrRWL88qiRSPh64z
This investigation is cryptographically anchored to the Solana blockchain (5 decisions). 11 of 12 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 8/9/2026, 11:08:52 PM
last updated: 10/17/2026, 3:28:24 AM
4 viewsavoid.net — verified advice for a post-truth world