A university dropout who conned investors out of AU$123million in a crypto currency scam claimed he battled with sex and video game addictions.
Canberra-born Stefan He Qin, 24, was jailed for seven-and-a-half years after pleading guilty to securities fraud in Manhattan, in the US, on Wednesday.
Qin cheated more than 100 investors and used their money to bankroll extravagant parties and pay for a $35,000-a-month penthouse in Lower Manhattan.
His lawyers Kaplan Hecker & Fink claimed their client had made the mistakes because of a traumatic childhood that had led to sexual and video game addiction.
Qin told US district judge Valerie Caproni he believed he was the main character of a game.
Canberra-born Stefan He Qin, 24, was jailed for seven-and-a-half years after pleading guilty to securities fraud in Manhattan, in the US, on Wednesday
While Qin was operating Vigil Sigma he was invited to appear on CNBC's 'Fast Money' to give advice on how to invest in cryptocurrency Bitcoin
'I thought I was the main protagonist and life was a video game and I had just found the cheat code to beat it,' he told US district judge Valerie Caproni.
'As we know, life is not a video game.'
Court documents claimed that Qin suffered from a traumatic childhood that involved bullying at school and parents who were physically abusive towards each other.
The court heard his parents, who are Chinese nationals, were 'overbearing' with his education and that he was physically bullied at school by students.
Qin then retreated into video games and would play for up to 16 hours a day, court documents state.
The 24-year-old told the judge he was 'absolutely heartbroken' as he read letters from victims about the pain he'd caused investors, including family members, friends and business associates.
'Now I feel ashamed to even look them in the eye and
