A Swedish man has been sentenced to fifteen years in jail within the U.S. for an funding fraud scheme involving cryptocurrency, together with bitcoin. He defrauded hundreds of victims of greater than $16 million.
- The U.S. Division of Justice (DOJ) introduced Thursday {that a} “cryptocurrency fraudster” has been sentenced to fifteen years in jail “for securities fraud, wire fraud and cash laundering prices that defrauded hundreds of victims of greater than $16 million.”
- Roger Nils-Jonas Karlsson, a 47-year-old Swedish man, was arrested in Thailand in June 2019. He pleaded responsible on March 4.
- In accordance with courtroom paperwork, Karlsson ran an funding fraud scheme from 2011 till his arrest. He offered shares within the scheme referred to as “Jap Metallic Securities” utilizing cryptocurrency similar to bitcoin and different on-line fee platforms. He promised victims “astronomical returns” tied to the value of gold.
- Nevertheless, Karlsson transferred the victims’ funds to his private financial institution accounts and used the cash to purchase costly properties, a racehorse and a resort in Thailand, the DOJ detailed, elaborating:
Karlsson’s fraud focused financially insecure buyers, inflicting extreme monetary hardship for a lot of of them.
- With a purpose to extend his fraudulent funding scheme, Karlsson deployed a number of methods, together with rebranding and falsely claiming to be working with the U.S. Securities and Trade Fee (SEC). The Justice Division acknowledged:
As a part of the sentence, Karlsson was additionally ordered to forfeit a Thai resort and varied different properties and accounts, and issued a cash judgment within the quantity of $16,263,820.
- The DOJ added that the U.S. “is in search of restitution on behalf of Karlsson’s victims,” noting that “A restitution order is predicted to be entered by the courtroom inside 90 days.”
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