Man Using £1 Mln Worth of Stolen Bitcoin to Fund Luxurious Lifestyle
2017-09-15, 05:15 PM,
#1
Quote:A 30-year-old man from Bath, England has denied eight charges of fraudulent activities involving the use of Bitcoin. The accused, Ryan Kennedy, was arraigned at the Bristol crown court on September 11, The Sun reports.

Highly sophisticated
While there had been already many cases of Bitcoin scams for the past years, Kennedy's case is said to be unique in that it employed sophisticated strategies to trick victims worldwide. While details aren’t presently available due to the upcoming trial, Kennedy’s defense attorney, Dominic Thomas, states:

"This is, as far as counsel are aware, the first trial of its kind.”

Kennedy is charged with crimes from 2014 and is said to have stolen a total of £1 million in Bitcoin. This money was allegedly used to support a luxurious lifestyle.

Finally, in June of this year, the Avon and Somerset police filed charges against Kennedy after three years of investigation by the Economic Crime Team. Included in the eight charges against Kennedy are money-laundering and fraudulent trading, which he denied in court on Monday.

Thomas also added that the case is one of a kind and that evidence will be coming from all over the world, including Finland and America. As part of his alleged fraud, Kennedy apparently operated under different identities and even feigned being a lawyer with a degree from Balliol College, Oxford.

The accused will have to go back to court for the case management hearing on December 18, and will stand trial on September 3, 2018.

Interesting read: Man Using £1 Mln Worth of Stolen Bitcoin to Fund Luxurious Lifestyle
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2017-09-15, 06:36 PM,
#2
Oh damn that's alot of money, he seems clever but not enough.
Lol!
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2017-09-16, 12:58 AM,
#3
1 Million £ is hell lot of money man, he was really having a great life. But sadly, no more luxurious life.
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2017-09-16, 01:56 AM,
#4
Interesting news! The guy was too smart but not enough because he got caught.
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2017-09-16, 11:39 AM,
#5
BTC ois nowadays used as money laundering, So it is kind of easy to do scams with BTC.
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2017-09-16, 02:40 PM,
#6
(2017-09-16, 12:58 AM)cellmind3 Wrote: 1 Million £ is hell lot of money man, he was really having a great life. But sadly, no more luxurious life.

Yes he had it good for a while, I was surprised to hear he lives in the Uk too.
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2017-09-17, 11:30 AM,
#7
I am wondering how did this guy stole 1 million amount of BTC, Interesting news!
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