Translunar Founder Sentenced to 37 Months for Tax Evasion, Concealing $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. Schmidt pleaded guilty in 2023 in federal court in Austin, Texas, for underreporting his income from 2020 to 2022, declaring less than $5,000 in income while actually earning over $7 million through fund operations. Schmidt founded Translunar in 2017, primarily investing in blockchain startups, with funding mainly coming from investors in the Austin, Texas, and Aspen, Colorado areas. He was arrested by the IRS Criminal Investigation Division on February 23, 2026, and has been in custody since then.

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