UK Court Sentences 4 Men to 15 Years for $26M Crypto Fraud - CoinDesk

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Camomile Shumba is simply a CoinDesk regulatory newsman based successful the UK. She antecedently worked arsenic an intern for Business Insider and Bloomberg News. She does not presently clasp worth successful immoderate integer currencies oregon projects.

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Join the astir important speech successful crypto and Web3 taking spot successful Austin, Texas, April 26-28.

Four men were sentenced to 15 years successful situation by a U.K. tribunal for fraudulently obtaining and laundering bitcoin (BTC) and different cryptocurrency worthy astir $26 cardinal from an Australian crypto exchange, the Crown Prosecution Service (CPS) said last week.

Stephen William Boys, Kelly Caton, Jordan Kane Robinson and James Austin-Beddoes were recovered blameworthy of fraud, converting and transferring transgression spot astatine Lancashire, U.K.-based Preston Crown Court.

All 4 men worked with James Parker who "masterminded the conspiracy from his location successful Blackpool implicit a three-month play betwixt October 2017 and January 2018," the connection said.

Parker had exploited a loophole connected the trading level that enabled him and his associates to get the funds. Parker died successful January 2021.

“These offenders utilized the net from the comfortableness of their ain homes to get tens of millions of pounds worthy of bitcoin which did not beryllium to them," Jonathan Kelleher of the CPS said.

U.K. crypto fraud climbed by a 3rd to scope implicit $270 million successful 1 twelvemonth according to information released successful November from U.K. constabulary portion Action Fraud. In January, the country's apical transgression bureau enactment up a occupation posting for a cryptocurrency investigator and the U.K. constabulary present has crypto experts stationed crossed the country.


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Camomile Shumba is simply a CoinDesk regulatory newsman based successful the UK. She antecedently worked arsenic an intern for Business Insider and Bloomberg News. She does not presently clasp worth successful immoderate integer currencies oregon projects.


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CoinDesk - Unknown

Camomile Shumba is simply a CoinDesk regulatory newsman based successful the UK. She antecedently worked arsenic an intern for Business Insider and Bloomberg News. She does not presently clasp worth successful immoderate integer currencies oregon projects.

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