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Today we’ve simply given-in to no nutritional value, guilty pleasure, lowest common denominator: bitcoin-related crime news. Start your day with laughs and head scratching, as we examine the Savedroid ICO exit scam, an international bitcoin heist escape, the fury of a scorned woman, a bear spray robbery, and some whole food violence.
Savedroid Ghosts With Investors’ Money
This can’t be real, right? This must be a publicity gimmick. Well, in any event, German online news source Wirtschafts Woche documents how Savedroid has apparently taken the money and run. The company website was replaced with a meme picture, “Aannnd it’s gone.” Founder and CEO Yassin Hankir tweeted a picture of himself on a beach, long gone. All this after having raised $ 50 million in an ICO.
Promises of artificial intelligence, curated portfolios, and a native credit card proved too much for investors, and they poured in money. Stranger than fiction.
Reads Like a Movie Script
A suspect involved in an Icelandic heist involving a dozen perpetrators, 600 missing bitcoin mining rigs, was able to evade authorities after they’d managed to arrest him. “Sindri Thor Stefansson” the BBC reported, “escaped the low-security prison through a window and fled to Sweden on a passenger plane that was also carrying Iceland’s prime minister, local media report. The ticket had another man’s name and he was identified through CCTV video. The stolen computers, which are still missing, are worth $ 2m (£1.45m).” It appears Mrs. Stefansson was also arrested, but he didn’t have time to circle back evidently.
Hell Hath No Fury
Speaking of angry women, the broader ecosystem has been accused as being too male. Well, here’s Tina Jones breaking through the digital glass ceiling. According to WGN, Ms. Jones was “charged after allegedly paying thousands of dollars via bitcoin to a company on the dark web to murder the wife of a man she had an affair with, according to officials. Tina Jones, 31, appeared at bond court Wednesday morning where a judge set bond at $ 250,000. She was charged with one felony count of solicitation of murder-for-hire.”
Bearly Escaped with Bitcoin ATM
The Irving Patch, a Texas local online news source, are attempting to help police find two men. Police claim they “entered a store […] and sprayed a clerk with bear spray before making off with cash from a Bitcoin machine …. They can be seen in security footage spraying the store clerk with bear spray, a powerful form of pepper spray, before heading to the back of the store where the Bitcoin machine was located ….The clerk was taken to a hospital for treatment after being sprayed but was later released.”
Well, He Warned Him
Government crackdown on legitimate cryptocurrency exchanges usually receive very positive media coverage. What both government and mainstream media often miss is how less online exchanges necessarily means more face-to-face encounters, which can be dangerous for reasons bitcoin traders are well familiar. Case in point: a Miami man wished to turn $ 30,000 cash into more than that in bitcoin. He met supposed crypto dealers at a public place, a local Whole Foods parking lot. The fellow with the cash brought a gun just in case something went wrong. Turned out to be a pretty good idea. He was jumped for the money, and as he was attacked, yelled to his attacker, “Back off, I have a weapon,” the Miami Herald details. The attacker didn’t listen, and was shot. He was later arrested after being taken to a local hospital.
Bitcoiners Wanted at Citi
A recent now hiring Linkedin post detailed how Citi is looking for a “Senior Vice President, Senior AML Compliance Officer —Emerging Risk,” in Tampa, Florida. “Knowledge of cryptocurrency and bitcoin monitoring” and “Certified Bitcoin Professional Certification a plus,” are among the job qualifications and requirements.
More Spring Cleaning
Clearing off some smaller stories, Riot Blockchain has been subpoenaed. The Securities and Exchange Commission of the Philippines issued a rather blunt warning about what it terms bitcoin “schemes” to defraud investors. It lists more than a dozen companies by name, and proceeds to go through steps to identify future scams. Josh Ellithorpe tweeted how he “Just released my first open source project at Coinbase. If you need Cashaddr support for your Ruby app then you should check it out!” here.
Do you think Savedroid really scammed its investors? Let us know in the comments section below.
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The post Bitcoin in Brief Thursday: Another ICO Ghosts with $ 50 Million – Sends Thanx from Beer Beach appeared first on Bitcoin News.
Serena Williams is making an adjustment — to her real estate game — by slashing the price of her Bel-Air home … to just a shade under $ 10 million. The tennis star put the 6,101 sq ft, 6-bed, 7-bath mansion — featuring a pool, gym, bar, salon…
Amazon.com Inc. Chief Executive Jeff Bezos said the e-commerce giant has exceeded 100 million paid Prime subscribers and will continue to invest to meet “ever-rising” customer expectations.
Bezos noted the milestone in his annual shareholder letter, published Wednesday. The letter is the founder’s…
Elon Musk’s tunnel-digging venture the Boring Co. raised $ 112.5 million in a recent funding round, according to a document filed Monday with the U.S. Securities and Exchange Commission.
Most of the money — more than 90% — came from Musk himself. The rest was from “early employees” of the company,…
T-Mobile US Inc. will pay $ 40 million to settle accusations that the carrier made it seem that outgoing calls were ringing at their destination when they weren’t, the Federal Communications Commission announced.
T-Mobile admitted that it violated a prohibition against inserting false ringing sounds…
As the second anniversary of Prince’s death approaches, his heirs have yet to collect a dollar of his estimated $ 200 million estate. Per the AP , bankers, lawyers and consultants have earned millions from it. The long saga to settle the estate provides a cautionary tale about dying without a will,…
The FBI has announced on Friday that Renwick Haddow, a 49-year old UK national, has been extradited to the US from Morocco to face charges at the Southern District Court of New York. He is accused of defrauding more than $ 36 million from victims by making material misrepresentations and misappropriating investment funds in two companies, Bitcoin Store and Bar Works.
Also Read: Malta Attracts Cryptocurrency Exchange Okex
Fake Bitcoin Broker Extradited
Haddow was arrested in Morocco under a provisional arrest warrant in July 2017 after the SEC filed fraud charges against him. He allegedly used sales representatives to cold call potential investors and sell securities in the two companies he controlled while hiding his involvement due to his shady past.
According to the SEC’s complaint, promotional materials presented to investors in both companies showcased senior executives who did not really exist, and misrepresented other key facts about the operations. Haddow allegedly diverted more than 80% of the in funds raised for Bitcoin Store, and sent more than $ 4 million from the Bar Works bank accounts to Mauritius and another $ 1 million to Morocco.
Up to 40 Years in Jail
The materials presented to Bitcoin Store investors claimed it was “an easy-to-use and secure way of holding and trading Bitcoin” and had generated several million dollars in gross sales. However, the SEC alleges that this company has never had any real operations nor generated the gross sales claimed. In 2015, for example, Bitcoin Store’s bank accounts allegedly received less than $ 250,000 in incoming transfers, none of which appear to come from paying customers. Haddow adopted the alias “Jonathan Black” to hide his involvement and falsely claimed an extensive background in finance.
“As alleged in our complaint, Haddow created two trendy companies and misled investors into believing that highly-qualified executives were leading them to quick profitability. In reality, Haddow controlled the companies from behind the scenes and they were far from profitable,” Andrew M. Calamari, Director of the SEC’s New York Regional Office, explained as the time.
Haddow has now been charged with two counts of wire fraud, each carrying a maximum sentence of twenty years in prison.
Should the US act as the world’s bitcoin policeman? Share your thoughts in the comments section below.
Images courtesy of Shutterstock.
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The post Alleged British Bitcoin Scammer Extradited to US for Defrauding Over $ 36 Million appeared first on Bitcoin News.
The 2017 deal was on behalf of Elliott Broidy, a businessman who faced allegations he impregnated a former Playboy model. It resembles a settlement Michael Cohen arranged involving President Trump and porn actress Stormy Daniels, which is now a topic of federal law-enforcement scrutiny.
WSJ.com: What’s News Asia
The Republican National Committee has committed $ 250 million to a midterm election strategy that has one goal above all else: Preserve the party’s House majority for the rest of President Donald Trump’s first term.
California toy mogul Isaac Larian submitted a $ 675-million bid Friday to buy 274 Toys R Us stores in the United States — and another $ 215 million to acquire 82 stores in Canada.
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