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- According to the US Department of Justice, a Swedish man was sentenced to 15 years in prison for securities fraud, wire fraud, and money laundering after defrauding more than 3,500 individuals out of more than $16 million in bitcoin (BTC, +2.95 percent ) and other payment systems between 2011 and 2019
- Karlsson promised his victims huge returns on their investments in bitcoin and other online payment systems depending on gold prices. Karlsson, on the other hand, kept the money and put it into a string of high-end houses and a racehorse
- As regulators strive to crack down on unlawful crypto activities, Karlsson’s penalty is the latest in a series of fraud allegations made by multiple US agencies against individuals
According to the US Department of Justice, a Swedish man who defrauded more than 3,500 people out of more than $16 million in bitcoin (BTC, +2.95 percent ) and other payment systems between 2011 and 2019 was sentenced to 15 years in prison for securities fraud, wire fraud, and money laundering. Roger Nils-Jonas Karlsson, 47, was also ordered to hand over a Thai resort he bought with the stolen money. Karlsson operated an investment fraud operation under the name Eastern Metal Securities from 2011 until his arrest in Thailand in 2019.
Karlsson promised his victim’s astronomical profits on their investments, paid in bitcoin and other online payment methods based on gold prices. Karlsson instead retained the money and invested it in a succession of high-end homes and a racehorse.
Karlsson’s punishment is the latest in a slew of fraud accusations filed by several US authorities against people, as regulators try to crack down on illicit crypto activity. The criminal investigations section of the Internal Revenue Service, the FBI Legal Attache Office in Thailand, the IRS-CI Attache Office in Hong Kong, and the Royal Thai Police Crime Suppression Division collaborated on the case against Karlsson. The United States is seeking reparations on behalf of the victims of Karlsson’s scam, which targeted financially vulnerable investors. In addition to having to repay $16,263,820, the court is likely to issue a reparation order within 90 days. Victims who have not yet contacted the United States Attorney’s Office for the Northern District of California are encouraged to do so as soon as feasible.
Roger Nils-Jonas Karlsson, 47, was sentenced to 15 years in prison for securities fraud, wire fraud, and money laundering, according to the Department of Justice. Over 3,500 people were scammed out of over $16 million by the Swedish guy. Roger Nils-Jonas Karlsson, 47, is accused of running an investment fraud operation from 2011 until his arrest in Thailand in June 2019.
In March, he entered a guilty plea. Karlsson allegedly urged victims to invest in a scheme dubbed Eastern Metal Securities using cryptocurrencies like bitcoin, promising astronomical profits related to the price of gold, according to court records. The United States is seeking reparations on behalf of the victims of Karlsson’s scam, which targeted financially vulnerable investors.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
