Ukrainian police have dismantled a suspected cryptocurrency fraud network and seized over $448,000 in cash.
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Brazilian police have dismantled a cryptocurrency money laundering network linked to the PCC, involving nearly $2 billion.
According to Foresight News News, Brazilian federal police launched Operation "Exchange" on Friday, targeting a criminal organization linked to the First Capital Command (PCC), Brazil's Specially Designated Global Terrorist Group (SDGT). This organization is accused of using cryptocurrency and cash to launder money and transfer illicit funds from Florida to Brazil. The operation involved 50 police officers who executed 13 search and seizure warrants and 11 provisional arrest warrants at multiple locations in São Paulo state. Authorities estimate that the criminals laundered nearly $2 billion through this money laundering scheme, mixing peer-to-peer transactions, large bank transactions, and cash transactions. However, as the investigation is ongoing, it has not yet been determined whether any exchanges were involved. On July 1, two suspects, Victor Henrique de Oliveira Shimada and Stella Stefanie Nunes Henrique de Oliveira, who were suspected of involvement in the organization, were added to the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) sanctions list along with three Brazilian companies and one Portuguese company due to their affiliation with the First Capital Command (PCC).
Malaysian police raided and dismantled an illegal cryptocurrency mining operation in the Port Klang Free Zone.
According to Foresight News , citing the Malaysian media outlet New Straits Times, Malaysian police raided and shut down an illegal cryptocurrency mining operation yesterday in a warehouse in the Pulau Indah Free Zone of Port Klang. Two foreign men, aged 20 and 31, were detained during the raid, and mining equipment was seized. Under Malaysian law, this act violates the Penal Code and the Electricity Supply Act. If both are convicted, they could face up to ten years in prison and a fine of RM100,000 (approximately US$24,500).
Vietnamese police reported on the ONUS cryptocurrency case, seizing over 350 kilograms of gold and silver and freezing eight real estate transactions.
Foresight News , citing Vietnam's Tuoi Tre newspaper, the Vietnamese Ministry of Public Security recently held a press conference to report on the investigation into the ONUS cryptocurrency case. A representative from the Investigation and Security Department (A09) of the Ministry of Public Security stated that in the investigation of the ONUS cryptocurrency exchange's alleged embezzlement, police have seized over 350 kilograms of gold and silver, frozen transactions involving eight properties worth 200 billion Vietnamese dong, and suspended over 300 bank accounts used by the defendants to trade with investors. On March 23rd of this year, police filed criminal charges against eight defendants, accusing them of using computer and telecommunications networks to commit embezzlement and money laundering. Since 2018, the perpetrators have exploited the public's lack of understanding of cryptocurrencies, creating digital accounts through applications and packaging them as virtual currencies. They built trust and attracted investment through cyclical buying and selling between affiliated companies, ultimately embezzling funds. Between 2018 and 2021, they sold over 7 trillion Vietnamese dong worth of cryptocurrency. A representative from A09 stated that the case involves numerous individuals and users, with approximately 5 million user accounts currently in operation. Police have received over 2,000 reports from citizens, and the recovery of assets is ongoing. They are also investigating whether social media influencers colluded with the defendants in promoting the cryptocurrency.
British Reform Party leader Farage has been exposed for failing to declare funding from the cryptocurrency gaming industry; one of the funders has a prior conviction for fraud.
PANews reported on July 6th that, according to an investigation by The Block citing The Sunday Times, Reform Party leader Nigel Farage failed to declare, as required, financial support from George Cottrell for security, drivers, social media personnel, and accommodations before his election as a Member of Parliament in 2024. Cottrell, who previously served eight months in prison in the US for wire fraud, later became a key figure in a cryptocurrency gambling platform. Farage only declared a £9,253 trip to Belgium funded by Cottrell and a £15,276 flight donation, failing to mention the security costs already paid by Cottrell.
A €1.5 million cryptocurrency scam in France has been cracked, with both the mother and son arrested.
PANews reported on July 4th that, according to Nice-Matin, police in the Var department of France have successfully cracked a €1.5 million cryptocurrency fraud case after a year-long investigation, arresting a mother and son involved. The couple used a "Rip Deal" scam, falsely claiming they could purchase luxury homes to lure a wealthy couple from Ramatuelle to Milan, where they were asked to pay a €1.5 million cryptocurrency transaction guarantee fee. During the scam, the suspects used hidden cameras to secretly film and steal the victims' encrypted account information and private keys, subsequently transferring all the cryptocurrency assets. Police arrested the mother and son in Cavaller and simultaneously seized properties worth €1.9 million under their names. Both suspects have multiple prior convictions for fraud and will appear in court on September 1st, facing multiple criminal charges related to organized crime fraud.
Former CEO of Goliath Ventures admits to fraud and money laundering charges in $400 million cryptocurrency Ponzi scheme.
According to CoinDesk, prosecutors in Florida have revealed that Christopher Alexander Delgado, former CEO of Goliath Ventures, has pleaded guilty to charges including conspiracy to commit wire fraud, wire fraud, and money laundering in connection with a cryptocurrency investment scam involving approximately $400 million.