Robert Dunlap / Meta-1 Coin Trust
Summary
Robert Dunlap, 55, of Houston, Texas, operated Meta-1 Coin Trust from 2018 to 2023, raising more than $20 million from nearly 1,000 investors by falsely claiming a digital asset called 'Meta-1 Coin' was backed by $44 billion in gold and $1 billion in artwork. Dunlap fabricated audit documents and manipulated trading prices using automated bots. He was convicted by a federal jury in November 2025 on two counts of mail fraud and sentenced on April 17, 2026, to 23 years in federal prison by U.S. District Judge LaShonda A. Hunt in the Northern District of Illinois.
Connected Entities
1 entities · 10 linked investigationsTimeline(8 events)
2018-04-01
Meta-1 Coin Trust launched; Robert Dunlap begins marketing Meta-1 Coin to investors, falsely claiming it is backed by gold and fine art and promising returns of up to 224,923 percent.
The Daily Beast / IRS Criminal Investigation2019-01-01
Online forums begin identifying Meta-1 Coin as a fraudulent scheme. Operators respond by falsely claiming on David Schmidt's radio show that an SEC official had personally purchased coins.
The Daily Beast2020-03-16
SEC files emergency complaint in the Western District of Texas against Meta 1 Coin Trust, Robert Dunlap, Clear International Trust, Nicole Bowdler, and David A. Schmidt. Asset freeze and emergency relief obtained within one day.
SEC Press Release 2020-662020-04-01
Federal court issues preliminary injunctions and civil contempt rulings; arrest warrants issued for Schmidt and Dunlap after defendants continue to violate court orders and social media ban.
The Daily Beast / ForexBrokerz2023-03-16
U.S. court enters a $10 million default judgment against Robert Dunlap, Nicole Bowdler, David Schmidt, and three associated companies in the SEC civil case.
FinanceFeeds: SEC Obtains $10M Final Judgment Against Meta 1 Coin2023-01-01
David Schmidt found civilly liable for fraud by a U.S. court for his role in promoting Meta-1 Coin and ordered to pay fines and penalties.
CoinMarketCap Academy / Finance Magnates2025-11-20
Federal jury in Chicago convicts Robert Dunlap on two counts of mail fraud after a week-long trial in the U.S. District Court for the Northern District of Illinois.
Chicago Sun-Times2026-04-17
U.S. District Judge LaShonda A. Hunt sentences Robert Dunlap to 23 years in federal prison and orders restitution to victims. DOJ and IRS announce the sentence publicly.
DOJ Northern District of Illinois / IRS Criminal InvestigationDecision Log
- hash: J2eor7jugKWSaFW8cuqae1RfGULmEBFpi32DRKeDbHfV
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 6/15/2026, 12:04:02 PM
last updated: 6/15/2026, 12:04:12 PM
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