Audit log

Every state-changing event for Robert Dunlap / Meta-1 Coin Trust: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions carry three independent witnesses — the original source, an Internet Archive snapshot taken at submission time, and a Solana memo signed by our publicly-disclosed publisher key.

1. #1publishby system:backfill

   2026-06-15 12:04:12Z
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   {"actor":"system:backfill","investigation_id":"8bdcf1f9-7423-4fe3-8b64-4f90325b0cdb","kind":"publish","page_slug":"robert-dunlap-meta-1-coin-trust","published_at":"2026-06-15T12:04:12.045Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Robert Dunlap / Meta-1 Coin Trust","sections":[{"content":"Robert Dunlap was convicted on two counts of mail fraud following a week-long trial before a federal jury in the U.S. District Court for the Northern District of Illinois in November 2025. On April 17, 2026, U.S. District Judge LaShonda A. Hunt sentenced Dunlap to 23 years in federal prison and ordered him to pay restitution to the victims he defrauded. Each count of mail fraud carried a statutory maximum of 20 years imprisonment. The case was prosecuted by Assistant U.S. Attorneys Jared Hasten and Paige Nutini, who described Dunlap as 'unrepentant' and noted that his deceptions escalated in scale over the course of the scheme. Investigating agencies included IRS Criminal Investigation, the FBI Chicago Field Office, the SEC, and the U.S. Attorney's Office for the Eastern District of Virginia.","heading":"Criminal Conviction and Sentencing","severity":"critical","sources":[{"credibility":1,"name":"IRS Criminal Investigation: Federal jury in Chicago convicts man of orchestrating $14 million cryptocurrency fraud","type":"regulatory","url":"https://www.irs.gov/compliance/criminal-investigation/federal-jury-in-chicago-convicts-man-of-orchestrating-14-million-cryptocurrency-fraud"},{"credibility":1,"name":"IRS Criminal Investigation: Texas man who orchestrated $20 million cryptocurrency scam sentenced to 23 years in prison","type":"regulatory","url":"https://www.irs.gov/compliance/criminal-investigation/texas-man-who-orchestrated-20-million-cryptocurrency-scam-sentenced-to-23-years-in-prison"},{"credibility":1,"name":"DOJ Northern District of Illinois: Texas Man Who Orchestrated $20 Million Cryptocurrency Scam Sentenced to 23 Years in Prison","type":"regulatory","url":"https://www.justice.gov/usao-ndil/pr/texas-man-who-orchestrated-20-million-cryptocurrency-scam-sentenced-23-years-prison"},{"credibility":1,"name":"CBS Chicago: Texas man behind $20 million crypto scam gets 23 years in federal prison from Illinois judge","type":"news_article","url":"https://www.cbsnews.com/chicago/news/20-million-crypto-scam-federal-prison-robert-dunlap/"}]},{"content":"From approximately April 2018 through 2023, Robert Dunlap, operating as trustee and self-styled 'Executive Trustee and Global Visionary' of the Meta-1 Coin Trust, marketed and sold a purported digital asset called 'Meta-1 Coin.' Dunlap made numerous materially false and misleading representations to potential and actual investors. He claimed the coin was backed by as much as $44 billion in gold and $1 billion in fine artwork, with the alleged art collection purporting to include works by Pablo Picasso, Salvador Dali, and Vincent Van Gogh. He told investors that an accounting firm had independently audited the gold holdings and confirmed their value. None of these assets existed. Dunlap fabricated supporting legal and audit documents to lend credibility to these claims. He also promised investors that Meta-1 Coin was risk-free, would never lose value, and could return as much as 224,923 percent. Investor funds were not used for the stated purpose; instead, funds were diverted to personal expenses and luxury purchases including a $215,000 Ferrari and casino visits. The coins were never distributed to investors. Dunlap additionally created and operated a website called the 'Meta Exchange,' where he artificially inflated the coin's market price and trading volume using automated software programs (trading bots), creating a false impression of liquidity and market activity.","heading":"Scheme Description and Fraudulent Representations","severity":"critical","sources":[{"credibility":1,"name":"DOJ Northern District of Illinois: Texas Man Who Orchestrated $20 Million Cryptocurrency Scam Sentenced to 23 Years in Prison","type":"regulatory","url":"https://www.justice.gov/usao-ndil/pr/texas-man-who-orchestrated-20-million-cryptocurrency-scam-sentenced-23-years-prison"},{"credibility":2,"name":"The Daily Beast: The $9 Million Crypto Scam Backed By a State Senator and a YouTube Psychic","type":"news_article","url":"https://www.thedailybeast.com/the-dollar9-million-crypto-scam-backed-by-a-state-senator-and-a-youtube-psychic/"},{"credibility":2,"name":"CoinTelegraph: Key Figure Behind $20 Million Meta-1 Coin Fraud Receives 23 Years","type":"news_article","url":"https://cointelegraph.com/news/meta-1-coin-fraud-robert-dunlap-23-years-sentence"},{"credibility":2,"name":"FinanceFeeds: SEC Obtains $10M Final Judgment Against Meta 1 Coin","type":"news_article","url":"https://financefeeds.com/sec-obtains-10m-final-judgment-against-meta-1-coin/"}]},{"content":"On March 16, 2020, the SEC filed a complaint in the Western District of Texas (Austin Division) against the Meta 1 Coin Trust, Robert Dunlap, Clear International Trust, Nicole Bowdler, and David A. Schmidt, alleging violations of the antifraud and securities registration provisions of the federal securities laws. The SEC obtained an asset freeze and other emergency relief within one day of filing, halting the operation. A court subsequently issued preliminary injunctions and civil contempt rulings against the defendants, including arrest warrants for Schmidt and Dunlap after they continued to violate court orders. The SEC also imposed temporary bans on social media postings. On March 16, 2023, the court entered a $10 million default judgment against Dunlap, Bowdler, Schmidt, and three associated companies. By the time of the initial SEC complaint, the defendants had raised over $15.2 million from at least 800 investors in 40 U.S. states and eight foreign countries. The SEC case was designated as a covered action under the SEC whistleblower program.","heading":"SEC Emergency Action and Civil Enforcement","severity":"critical","sources":[{"credibility":1,"name":"SEC Press Release 2020-66: SEC Emergency Action Stops Digital Asset Scam","type":"regulatory","url":"https://www.sec.gov/newsroom/press-releases/2020-66"},{"credibility":1,"name":"SEC: SEC v. Meta 1 Coin Trust, Robert Dunlap, Clear International Trust, Nicole Bowdler, and David A. Schmidt (Whistleblower Notice)","type":"regulatory","url":"https://www.sec.gov/enforcement-litigation/whistleblower-program/notice-covered-actions/award-claim-2021-034"},{"credibility":2,"name":"CoinGeek: Meta 1 Coin: SEC files for default judgment against $9M scam","type":"news_article","url":"https://coingeek.com/meta-1-coin-sec-files-for-default-judgment-against-9m-scam/"},{"credibility":2,"name":"FinanceFeeds: SEC Obtains $10M Final Judgment Against Meta 1 Coin","type":"news_article","url":"https://financefeeds.com/sec-obtains-10m-final-judgment-against-meta-1-coin/"}]},{"content":"The Meta-1 Coin Trust operation involved multiple named participants. Nicole Bowdler, a Florida resident who maintained a YouTube channel and claimed psychic abilities, held the title 'Trustee and Art Acquisitions and Forensics Director.' She faced SEC enforcement alongside Dunlap and was named in the 2020 emergency complaint and the 2023 default judgment. David A. Schmidt, a former Republican Washington state senator, joined the venture as a board member and served as a public face of the project. Schmidt had a prior history of campaign finance violations involving misappropriation of more than $32,000. The SEC obtained emergency relief against Schmidt in 2020, and in 2023 a U.S. court found him civilly liable for fraud related to his role in promoting Meta-1 Coin. Wanda Ironheart Traversie-Warner, a self-described shamanic healer who held the title 'Senior Director of Operations,' was also associated with the project; she had two prior prison terms including one for check forgery. The criminal case in the Northern District of Illinois focused on Dunlap as the principal orchestrator.","heading":"Co-Conspirators and Associated Individuals","severity":"high","sources":[{"credibility":2,"name":"The Daily Beast: The $9 Million Crypto Scam Backed By a State Senator and a YouTube Psychic","type":"news_article","url":"https://www.thedailybeast.com/the-dollar9-million-crypto-scam-backed-by-a-state-senator-and-a-youtube-psychic/"},{"credibility":1,"name":"SEC: SEC v. Meta 1 Coin Trust, Robert Dunlap, Clear International Trust, Nicole Bowdler, and David A. Schmidt","type":"regulatory","url":"https://www.sec.gov/enforcement-litigation/whistleblower-program/notice-covered-actions/award-claim-2021-034"},{"credibility":2,"name":"Finance Magnates: Former Washington Senator Schmidt Caught up in ICO Scam","type":"news_article","url":"https://www.financemagnates.com/cryptocurrency/icos/former-washington-senator-schmidt-caught-up-in-ico-scam/"},{"credibility":2,"name":"ForexBrokerz: Judge orders arrest of former US senator involved in 'Meta 1 Coin' scam","type":"news_article","url":"https://www.forexbrokerz.com/news/Judge-orders-arrest-of-former-US-senator-involved-in-Meta-1-Coin-scam"}]},{"content":"Meta-1 Coin was promoted across a range of digital platforms including Instagram, YouTube, Facebook, Blog Talk Radio, email newsletters, and online workshops. The operation positioned Meta-1 Coin as a sovereign, asset-backed instrument beyond the reach of government interference, appealing to investors skeptical of traditional financial systems. When online forums began identifying the project as fraudulent in early 2019, the operators responded by addressing accusations directly on Schmidt's radio show, falsely claiming that an SEC official had purchased coins after being impressed by their legitimacy. Investors were told the coins would reach $50,000 per coin within two years. The project sold 450 million coins at $22.22 each. Dunlap caused the prices displayed on the Meta Exchange website to be artificially inflated through automated trading bots, creating a misleading picture of coin appreciation and trading activity.","heading":"Marketing Tactics and Investor Recruitment","severity":"high","sources":[{"credibility":2,"name":"The Daily Beast: The $9 Million Crypto Scam Backed By a State Senator and a YouTube Psychic","type":"news_article","url":"https://www.thedailybeast.com/the-dollar9-million-crypto-scam-backed-by-a-state-senator-and-a-youtube-psychic/"},{"credibility":2,"name":"Decrypt: Former state senator allegedly involved in crypto scam","type":"news_article","url":"https://decrypt.co/23161"}]},{"content":"The fraud scheme caused nearly 1,000 investors to lose more than $20 million in total, with many victims losing their entire life savings. The geographic reach of the scheme extended across at least 40 U.S. states and eight foreign countries. The FBI maintained an active victim identification form at forms.fbi.gov/victims/meta1coinvictim to assist in cataloging affected investors. Prosecutors noted at sentencing that Dunlap showed no remorse and that the scope and duration of the scheme — spanning five years — reflected deliberate and sustained predatory conduct. Coins sold to investors were never distributed.","heading":"Victim Impact","severity":"critical","sources":[{"credibility":1,"name":"FBI: Seeking Victims of Meta1 Coin","type":"regulatory","url":"https://forms.fbi.gov/victims/meta1coinvictim"},{"credibility":1,"name":"IRS Criminal Investigation: Texas man who orchestrated $20 million cryptocurrency scam sentenced to 23 years in prison","type":"regulatory","url":"https://www.irs.gov/compliance/criminal-investigation/texas-man-who-orchestrated-20-million-cryptocurrency-scam-sentenced-to-23-years-in-prison"},{"credibility":1,"name":"CBS Chicago: Texas man behind $20 million crypto scam gets 23 years in federal prison from Illinois judge","type":"news_article","url":"https://www.cbsnews.com/chicago/news/20-million-crypto-scam-federal-prison-robert-dunlap/"},{"credibility":1,"name":"Chicago Sun-Times: Cryptocurrency scam sees Chicago jury convict Texas man in $14 million scheme","type":"news_article","url":"https://chicago.suntimes.com/crime/2025/11/20/chicago-jury-convicts-texas-man-in-14-million-crypto-currency-scam"}]}],"sources_used":[{"credibility":1,"name":"DOJ Northern District of Illinois: Texas Man Who Orchestrated $20 Million Cryptocurrency Scam Sentenced to 23 Years in Prison","type":"regulatory","url":"https://www.justice.gov/usao-ndil/pr/texas-man-who-orchestrated-20-million-cryptocurrency-scam-sentenced-23-years-prison"},{"credibility":1,"name":"IRS Criminal Investigation: Texas man who orchestrated $20 million cryptocurrency scam sentenced to 23 years in prison","type":"regulatory","url":"https://www.irs.gov/compliance/criminal-investigation/texas-man-who-orchestrated-20-million-cryptocurrency-scam-sentenced-to-23-years-in-prison"},{"credibility":1,"name":"IRS Criminal Investigation: Federal jury in Chicago convicts man of orchestrating $14 million cryptocurrency fraud","type":"regulatory","url":"https://www.irs.gov/compliance/criminal-investigation/federal-jury-in-chicago-convicts-man-of-orchestrating-14-million-cryptocurrency-fraud"},{"credibility":1,"name":"SEC Press Release 2020-66: SEC Emergency Action Stops Digital Asset Scam","type":"regulatory","url":"https://www.sec.gov/newsroom/press-releases/2020-66"},{"credibility":1,"name":"SEC: SEC v. Meta 1 Coin Trust, Robert Dunlap, Clear International Trust, Nicole Bowdler, and David A. Schmidt (Whistleblower Notice of Covered Action 2021-034)","type":"regulatory","url":"https://www.sec.gov/enforcement-litigation/whistleblower-program/notice-covered-actions/award-claim-2021-034"},{"credibility":1,"name":"FBI: Seeking Victims of Meta1 Coin","type":"regulatory","url":"https://forms.fbi.gov/victims/meta1coinvictim"},{"credibility":1,"name":"Chicago Sun-Times: Cryptocurrency scam sees Chicago jury convict Texas man in $14 million scheme","type":"news_article","url":"https://chicago.suntimes.com/crime/2025/11/20/chicago-jury-convicts-texas-man-in-14-million-crypto-currency-scam"},{"credibility":1,"name":"CBS Chicago: Texas man behind $20 million crypto scam gets 23 years in federal prison from Illinois judge","type":"news_article","url":"https://www.cbsnews.com/chicago/news/20-million-crypto-scam-federal-prison-robert-dunlap/"},{"credibility":1,"name":"Bloomberg Law: Texas Man Gets 23 Years in Prison for $20 Million Crypto Scam","type":"news_article","url":"https://news.bloomberglaw.com/white-collar-and-criminal-law/texas-man-gets-to-23-years-in-prison-for-20-million-crypto-scam"},{"credibility":2,"name":"CoinTelegraph: Key Figure Behind $20 Million Meta-1 Coin Fraud Receives 23 Years","type":"news_article","url":"https://cointelegraph.com/news/meta-1-coin-fraud-robert-dunlap-23-years-sentence"},{"credibility":2,"name":"The Daily Beast: The $9 Million Crypto Scam Backed By a State Senator and a YouTube Psychic","type":"news_article","url":"https://www.thedailybeast.com/the-dollar9-million-crypto-scam-backed-by-a-state-senator-and-a-youtube-psychic/"},{"credibility":2,"name":"FinanceFeeds: SEC Obtains $10M Final Judgment Against Meta 1 Coin","type":"news_article","url":"https://financefeeds.com/sec-obtains-10m-final-judgment-against-meta-1-coin/"},{"credibility":2,"name":"Finance Magnates: SEC Freezes Assets of Bogus ICO Run by Former State Senator","type":"news_article","url":"https://www.financemagnates.com/cryptocurrency/icos/sec-freezes-assets-of-bogus-ico-run-by-former-state-senator/"},{"credibility":2,"name":"CoinGeek: Meta 1 Coin: SEC files for default judgment against $9M scam","type":"news_article","url":"https://coingeek.com/meta-1-coin-sec-files-for-default-judgment-against-9m-scam/"},{"credibility":2,"name":"Decrypt: Former state senator allegedly involved in crypto scam","type":"news_article","url":"https://decrypt.co/23161"},{"credibility":2,"name":"The Crypto Times: $20M Crypto Scam Ends in 23-Year Sentence for Texas Man","type":"news_article","url":"https://www.cryptotimes.io/2026/04/17/20m-crypto-scam-ends-in-23-year-sentence-for-texas-man/"},{"credibility":2,"name":"ForexBrokerz: Judge orders arrest of former US senator involved in 'Meta 1 Coin' scam","type":"news_article","url":"https://www.forexbrokerz.com/news/Judge-orders-arrest-of-former-US-senator-involved-in-Meta-1-Coin-scam"},{"credibility":2,"name":"CoinMarketCap Academy: Meta-1 Coin Fraudster Sentenced to 23 Years for $20M Scam","type":"news_article","url":"https://coinmarketcap.com/academy/article/meta-1-coin-fraudster-sentenced-to-23-years-for-dollar20m-scam"}],"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.","timeline":[{"date":"2018-04-01","event":"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.","source":"The Daily Beast / IRS Criminal Investigation","source_url":"https://www.thedailybeast.com/the-dollar9-million-crypto-scam-backed-by-a-state-senator-and-a-youtube-psychic/"},{"date":"2019-01-01","event":"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.","source":"The Daily Beast","source_url":"https://www.thedailybeast.com/the-dollar9-million-crypto-scam-backed-by-a-state-senator-and-a-youtube-psychic/"},{"date":"2020-03-16","event":"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.","source":"SEC Press Release 2020-66","source_url":"https://www.sec.gov/newsroom/press-releases/2020-66"},{"date":"2020-04-01","event":"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.","source":"The Daily Beast / ForexBrokerz","source_url":"https://www.forexbrokerz.com/news/Judge-orders-arrest-of-former-US-senator-involved-in-Meta-1-Coin-scam"},{"date":"2023-03-16","event":"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.","source":"FinanceFeeds: SEC Obtains $10M Final Judgment Against Meta 1 Coin","source_url":"https://financefeeds.com/sec-obtains-10m-final-judgment-against-meta-1-coin/"},{"date":"2023-01-01","event":"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.","source":"CoinMarketCap Academy / Finance Magnates","source_url":"https://coinmarketcap.com/academy/article/meta-1-coin-fraudster-sentenced-to-23-years-for-dollar20m-scam"},{"date":"2025-11-20","event":"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.","source":"Chicago Sun-Times","source_url":"https://chicago.suntimes.com/crime/2025/11/20/chicago-jury-convicts-texas-man-in-14-million-crypto-currency-scam"},{"date":"2026-04-17","event":"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.","source":"DOJ Northern District of Illinois / IRS Criminal Investigation","source_url":"https://www.justice.gov/usao-ndil/pr/texas-man-who-orchestrated-20-million-cryptocurrency-scam-sentenced-23-years-prison"}]},"v":1}

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