Taiwanese Bitcoin Conman Arrested on Multiple Charges
In a report coming out of Taiwan, an individual who founded and ran a bitcoin company has been arrested on charges of fraud, breach of trust and document forgery after allegedly causing losses to 49 customers in a month. The chairman of Taipei-based Digital Bitcoin Company, a man identified by his surname Ho has been arrested and handed over to the Prosecutor’s Office in Taiwan, according to a report by local publication Focus Taiwan. Criminal Investigation Bureau (CIB) officials revealed that Ho had swindled NT$10 million (approx. USD $306,500) and caused losses to 49 customers in a....
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The Chinese newspaper, China Times, has reported that on August 20, 2015, Taiwanese police arrested two suspects who allegedly scammed investors out of $1 billion NT, equivalent to $30.6 million USD. Lu Kuan-wei and Chen Yun-fei were arrested after the Criminal Investigation Bureau in Taipei received a number of complaints about fraud from victims. Editor’s Note: To be clear, Mycoin was a ponzi scheme that fronted as a Bitcoin exchange. Additionally, it needs to be noted that MyCoin is not Maicoin, a legal Taiwanese Bitcoin exchange.
Rather than paying for the cryptocurrency through legal means, he asked for customer passwords to check the bitcoin balances in question. Bitcoin scams can be found all over the world these days. The allure of cryptocurrency opens the door for criminals looking to take other people’s money. One such scam was recently unveiled in Dubai, as three Gulf residents lost over US$100,000 in Bitcoin. The Asian conman behind this scam has been arrested after a sting operation. Buying and selling Bitcoin in Dubai is often done in a peer-to-peer manner. It is very common for interested traders to buy....
Infamous bitcoin scammer Ryan Kennedy has been arrested on rape charges in the UK; Due for hearing in May on 14 counts of sexual assault. Remember Ryan Kennedy, AKA Alex Green? He’s the former Moolah chief who got arrested in the UK last year on charges of stealing circa $1.8 million worth of bitcoin. Well, he’s back in custody on a different charge altogether. Local media in the UK, specifically the town of Bristol, reported that Kennedy has just been arrested on rape and sexual assault charges. The Bristol Post documented a court appearance that took place on February 1, 2016, at which....
The U.S. has arrested a man on criminal charges after he allegedly defrauded the government’s Covid-19 loan programs and used the money to buy cryptocurrency and Tesla. Using PPP Loan to Buy Cryptocurrency and Tesla The U.S. Department of Justice (DOJ) announced Friday that Lebnitz Tran was arrested Thursday “on criminal charges related to his alleged scheming to submit fraudulent loan applications seeking millions of dollars in Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) Covid-19 relief funds.” According to an indictment unsealed Friday,....
Hong Kong police have arrested a man accused of stealing $191,085 from a cryptocurrency trader in what turned out to be a bogus transaction. No funds were recovered at the time of the suspect’s arrest and investigations are ongoing to determine if the man had accomplices.
No Funds Recovered
Hong Kong police recently arrested a 24-year-old conman accused of vanishing with a crypto trader’s $191,085 (HK$1.5 million). The con artist now faces a possible ten-year jail term if convicted, a report has said.
According to a South China Morning Post report that....