According to reports by Wu, New Zealand police have arrested a Wellington man suspected of participating in an international cryptocurrency fraud case worth up to $265 million. This case is being investigated by the FBI, which claims that the criminal gang defrauded cryptocurrency from 7 victims by manipulation between March and August 2024.
Funds used to purchase luxury cars, luxury goods, and rent mansions in places like Los Angeles worth $9 million. In the past three days, multiple searches have been conducted in New Zealand and California, with 13 people charged, including the only New Zealand suspect in this case. The man faces charges from the U.S. Department of Justice, including extortion, telecommunications fraud, and conspiracy to commit money laundering.