US sentenced crypto scammers to 15 years in prison after deceiving thousands of investors – Bitcoin News

A Swedish man was sentenced to 15 years in prison in the US for an investment fraud involving cryptocurrency, including bitcoin. He has defrauded thousands of victims of more than $ 16 million.

  • The US Department of Justice (DOJ) announced Thursday that a “cryptocurrency fraudster” was sentenced to 15 years in prison for “securities fraud, wire transfer fraud and money laundering in which thousands of victims were defrauded of more than $ 16 million”.
  • Roger Nils-Jonas Karlsson, a 47-year-old Swede, was arrested in Thailand in June 2019. He pleaded guilty on March 4th.
  • According to court documents, Karlsson was involved in an investment fraud from 2011 until his arrest. He sold shares in the scheme called “Eastern Metal Securities” using cryptocurrencies such as Bitcoin and other online payment platforms. He promised the victims “astronomical returns” linked to the price of gold.
  • However, Karlsson transferred the victims’ funds to his personal bank accounts and used the money to buy expensive homes, a racehorse and a resort in Thailand, the DOJ explained, explaining:

Karlsson’s fraud targeted financially insecure investors and caused severe financial hardship for many of them.

  • To extend his fraudulent investment plan, Karlsson used several strategies, including rebranding and falsely claiming to be working with the US Securities and Exchange Commission. The Justice Department stated:

As part of the sentence, Karlsson was also ordered to forfeit a Thai resort and various other properties and accounts, and was sentenced to $ 16,263,820 in monetary terms.

  • The DOJ added that the US is “seeking redress on behalf of Karlsson’s victims,” ​​noting that “the court is expected to issue a redress order within 90 days.”

What do you think of this case? Let us know in the comment section below.

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