Charles O. Parks III, also known by the alias "CP3O," has been sentenced to one year and one day in federal prison for his involvement in a scheme that defrauded cloud computing providers of more than $3.5 million. He pleaded guilty in December 2024 to wire fraud in connection with a "cryptojacking" scheme carried out between January and August 2021, according to a statement released yesterday by the U.S. Attorney's Office for the Eastern District of New York.
Throughout the crime spree, Parks used various identities and corporate fronts to illegitimately tap into extensive amounts of cloud processing power to mine cryptocurrencies like Ether, Litecoin, and Monero without payment. To further complicate matters, Parks deceived service providers into granting him advanced access by making falsely ambitious claims about non-existent projects. The U.S. Attorney's Office confirmed that he led one provider to believe he was serving "10,000 students simultaneously" with an online training company dedicated to media, technology, and strategy—a company that, in truth, did not exist.
As part of his sentence, Parks has been ordered to forfeit assets obtained through the scheme, including $500,000 and a luxury Mercedes-Benz. These forfeitures were imposed by United States District Judge Eric Komitee. The exact restitution amount Parks will be required to pay has not yet been determined. According to official statements, Parks used the proceeds from the fraud to build credibility as a cryptocurrency influencer. In a video posted to his YouTube channel, he promoted a "MultiMillionaire Mentality" and claimed that after working for just 10 days at the start of the year, he "didn't work the rest of the year," as reported by the U.S. Attorney's Office.
United States Attorney Joseph Nocella, Jr., FBI's Assistant Director-in-Charge Christopher G. Raia, and NYPD Commissioner Jessica S. Tisch all made clear their commitments to hold those engaged in fraudulent activities accountable. "Parks branded himself as an innovator and a thought leader, but in the end he was merely a fraudster," Nocella said in a press release, denouncing the defendant's actions as nothing more than lies and theft. Raia also emphasized Parks' deception, asserting that his wrongdoing went beyond mere theft, as he also used his influence to mislead others in the digital currency space.
As revealed through court filings, Parks took steps to conceal his activities by laundering cryptocurrency through multiple platforms, including exchanges, NFT marketplaces, online payment services, and traditional bank accounts. The case was prosecuted by the National Security and Cybercrime Section of the U.S. Attorney’s Office, with Assistant United States Attorney Andrew D. Reich leading the effort and support from Paralegal Specialist Wayne Colon.
