Swedish crypto scammer sentenced to 15 years in jail

The US Division of Justice (DOJ) coat of arms could be seen in Washington, DC, USA on Could 10, 2021.

Andrew Kelly | Reuters

A Swede needed by the US for fraud towards over 3,500 victims of greater than $ 16 million has been sentenced to 15 years in jail for securities fraud, wire switch fraud and cash laundering, the Justice Division stated Thursday.

The DOJ says 47-year-old Roger Nils-Jonas Karlsson ran an funding fraud program from 2011 till his arrest in Thailand in June 2019. In March he pleaded responsible.

In keeping with court docket paperwork, Karlsson inspired victims to purchase shares in a system referred to as Jap Metallic Securities, which makes use of cryptocurrencies like Bitcoin, and guarantees “astronomical returns” tied to the worth of gold.

The funds paid by these victims have been as a substitute transferred to Karlsson’s private financial institution accounts, the place the cash was invested in costly properties, a racehorse and a resort in Thailand. Karlsson was ordered to forfeit this Thai resort and numerous different properties and accounts as a part of the sentence.

Karlsson partially saved the trick up by providing the victims updates and financial institution statements. He additionally defined delayed payouts by falsely claiming to be working with the Securities and Trade Fee.

Karlsson’s rip-off focused financially insecure buyers, and the US is demanding compensation on behalf of these victims.

Along with repaying $ 16,263,820, the court docket is predicted to challenge a restraint order inside 90 days. Victims who had no contact with the US Legal professional’s Workplace for the Northern District of California have been inspired to offer data as quickly as attainable.

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