Crypto use an aggravating factor for sentencing: Aussie court study

Crypto use an aggravating factor for sentencing: Aussie court study

Offenders that use cryptocurrency for illegal activity in Australia are more likely to receive a tougher sentence. Criminals that used cryptocurrency as part of committing a crime are more likely to receive a tougher sentence in Australian courts, a new study has found. The study, titled “Crime and Cryptocurrency in Australian Courts,” published on Monday in the Monash University Law Review, found that the use of cryptocurrency in criminal activity was seen as indicating an increased “degree of planning” and sophistication, leading the court to “consider general deterrence above other....


Related News

Silk Road’s Ross Ulbricht Sentencing Details Revealed

In 2015, there has been no bigger story than the conviction and sentencing of Silk Road’s creator Ross Ulbricht to life in prison last month. Many in the bitcoin community have little idea of what he was convicted of, or the sentences for these offenses. With the trial now concluded, the sentencing details for this landmark case have been revealed. This article will provide the concise reference guide, with the official court documents, and a summary of where Ross Ulbricht goes from here. To see the entire official court file, click here. The case number is 1:14-cr-00068-KBF and was....

Silk Road Agent Shaun Bridges Gets 71 Months in Prison

Shaun Bridges, a former Secret Service agent who stole more than $800,000 worth of bitcoins during the investigation into darknet marketplace Silk Road, has been sentenced to 71 months in prison. In June, Bridges pleaded guilty to siphoning off the bitcoins from Silk Road before moving them an account on Mt. Gox. At the sentencing in San Francisco, U. S. District Judge Richard Seeborg called the theft "an extremely serious crime consisting of the betrayal of public trust from a public official" and concluded that "a high-end sentence" was warranted, according to Ars Technica. Prosecutors....

US Court Sentences Another Centra Tech Co-Founder to 8 Years in Jail

Sohrab Sharma, a co-founder with the now-defunct Florida cryptocurrency firm, Centra Tech, has been sentenced to eight years in prison after he pleaded guilty to charges of duping investors via a fraudulent initial coin offering (ICO). Additionally, the court has ordered Sharma to forfeit $36,088,960. Material Misrepresentations Prior to Sharma’s sentencing, the U.S. Department of Justice (DOJ) similarly announced the jailing of Robert Joseph Farkas, another mastermind of Centra Tech. Both Sharma and Farkas are accused of using fabricated business relationships with legitimate....

Aussie billionaire sues Facebook over crypto scams with AG's consent

The Aussie businessman said that Facebook’s failure to remove the fraudulent ads featuring him and dozens of other high profile celebs was “criminally reckless.” Australian billionaire Andrew “Twiggy” Forrest is taking Facebook to court over scammy cryptocurrency ads that he alleges used his name to defraud victims.The Fortescue Metals chairman is accusing Facebook of breaching Australia’s money-laundering laws, claiming that it “knowingly profits from this cycle of illegal ads” that it failed to remove. An initial court hearing in the Western Australian Magistrates court is scheduled for....

Mizuho Bank’s Appeal Against Mt Gox Related Lawsuit Dismissed

A US Court has dismissed the appeal filed by Mizuho Bank against Mt Gox customers' class action lawsuit. Mizuho Bank recently found itself in a legal trouble after its association with defunct Bitcoin exchange Mt. Gox was recognized by a US court. The bank’s name surfaced in the notorious Bitcoin theft case when some of its victims claimed that their withdrawal requests was denied by the Japanese bank. The Mt. Gox victims, on the grounds of denial of rightful requests by Mizuho, later filed a class action lawsuit against the bank. According to the lawsuit, Mizuho Bank intentionally wreaked....