Crypto Scam: $265 Million Fleeced in Global Hustle
In the land of sheep, New Zealand, the authorities have rounded up a man, Wellington-based, but arrested in Auckland. He stands accused of orchestrating a massive international cryptocurrency scam worth $265 million. In a tale fit for a crime thriller, the FBI, not ones to miss out on a juicy opportunity, took the reins of the investigation, leading to simultaneous arrests in both New Zealand and the United States. Ah, the beauty of international collaboration in crime…
Crypto Conmen: 13 Suspects in the Web of Deceit
On May 16, Detective Inspector Christiaan Barnard of the New Zealand Police shared the stunning success of his Financial Crime Group. Their hard work resulted in the arrest of a suspect tied to a syndicate accused of pilfering a staggering $450 million New Zealand dollars. The culprit’s name is currently under wraps, but fear not, the plot will thicken. He was captured in Auckland—far from the capital, Wellington—like a modern-day fugitive of justice. His first court appearance? A routine show-and-tell with the Auckland District Court. Bail granted, but his date with destiny will arrive on July 3, 2025. Time to grab some popcorn. 🍿
It appears this crypto fraud ring has been running since March 2024, reaching its peak in August of the same year, leaving a trail of seven victims in its wake. Oh, and just to spice things up, US authorities managed to nab 12 other suspects in California—because why stop at one country when you can wreak havoc across an entire continent, right? All of these miscreants were part of a grand international conspiracy involving hacking, money laundering, and—wait for it—stealing cold hardware wallets. A classic move! 💻
What did these crooks spend their ill-gotten gains on? Nightclubs, luxury handbags, high-end watches, designer clothing… all the essentials for a life of high-flying crime. And the best part? They splashed out on 28 luxury cards, each worth between $100,000 and $3.8 million. Maybe they were collecting them like Pokémon cards? Gotta catch ’em all… in jail. 🤑
Charges: RICO, Fraud, and the Usual Shenanigans
The US Department of Justice has thrown the book at these crooks. Out of the 13 defendants, 12 are facing the wrath of the RICO Act, which could lock them up for 20 years. It’s not a typo—20 years, folks. Even the thought of spending two decades in prison must be enough to make them think twice about their “easy money” scheme.
But wait, there’s more! Nine of these criminals are also dealing with charges related to conspiracy to launder monetary instruments, while eight face wire fraud charges. Each of these crimes has a potential sentence of 20 years. Oh, and let’s not forget the one poor sap who thought he could obstruct justice by destroying evidence. Nice try, buddy! The evidence was never going to disappear.
And in case you thought the world of crypto was still soaring high, news flash: The market just took a 1.59% dip in the past 24 hours. Total trading volume? Down 14.63%, with a valuation of $95.19 billion. Someone’s about to feel that sting.
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2025-05-19 01:47