A Minocqua man has been sentenced to more than six years in prison for his role in a investment scheme. Cory Kromray was convicted on federal charges of wire fraud and money laundering.
Kromray was charged in May 2025. Court records reveal he used social media to present himself as a successful stock and cryptocurrency trader to attract investors.
Between September 2018 and August 2024, Kromray allegedly received about $3.6 million from nine investors. But instead of investing the funds, he reportedly used them for personal expenses such as a down payment on a Lamborghini, payments for two trucks, a ski boat down payment, mortgage payments for a Minocqua home, and credit card bills.
The records also state Kromray provided fake account statements to investors, leading them to believe their funds were actively being traded.
Kromray was sentenced to six years and eight months in federal prison and ordered to pay more than $828,000 in restitution. According to court records, Kromray is appealing.
