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U.S. COURT EXTENDS SENTENCE IN $20M CRYPTO FRAUD CASE
Nicholas Truglia’s prison term has been extended to 12 years after failing to repay $20.4 million in restitution to crypto investor Michael Terpin.
Truglia, who pleaded guilty in 2021, played a key role in a SIM-swap scam that allowed hackers to access Terpin’s crypto holdings. The stolen funds were later converted into Bitcoin.
This case highlights growing legal consequences in crypto-related fraud, as U.S. courts crack down harder on cybercriminals.
#CryptoNews #Bitcoin #FraudCase #SIMSwap #NicholasTruglia
Nicholas Truglia’s prison term has been extended to 12 years after failing to repay $20.4 million in restitution to crypto investor Michael Terpin.
Truglia, who pleaded guilty in 2021, played a key role in a SIM-swap scam that allowed hackers to access Terpin’s crypto holdings. The stolen funds were later converted into Bitcoin.
This case highlights growing legal consequences in crypto-related fraud, as U.S. courts crack down harder on cybercriminals.
#CryptoNews #Bitcoin #FraudCase #SIMSwap #NicholasTruglia
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🚨 The largest crypto seizure in British history
A Chinese citizen, Zhimin Qian (also known as Yadi Zhang), has pleaded guilty at Southwark Crown Court after British police seized 61,000 $BTC – worth over 6.7 billion USD at current prices. This is considered the largest cryptocurrency seizure in the world.
Qian has been dubbed the "goddess of wealth" after defrauding over 128,000 investors in China between 2014 and 2017. After several years of hiding, she used fake documents to come to the UK to launder money through real estate. Her associate Seng Hok Ling (Malaysia) also admitted his role in the operation.
Previously, Jian Wen – Qian's "right-hand man" – was sentenced to over 6 years in prison for laundering hundreds of millions of pounds via BTC. British police stated that this case exposes the massive scale that criminals can manipulate through crypto.
According to the Metropolitan Police & Southwark Crown Court, Qian is being held awaiting sentencing on 10/11. The British government also affirmed: "The land of fog is not a safe haven for criminals."
❌ Disclaimer: This is just a summary news piece with a bit of light-hearted fun, not investment advice for buying or selling Bitcoin. Don't think holding 61,000 BTC will easily change your life!
#Bitcoin #CryptoNews #FraudCase #UKPolice #CryptoCrime
A Chinese citizen, Zhimin Qian (also known as Yadi Zhang), has pleaded guilty at Southwark Crown Court after British police seized 61,000 $BTC – worth over 6.7 billion USD at current prices. This is considered the largest cryptocurrency seizure in the world.
Qian has been dubbed the "goddess of wealth" after defrauding over 128,000 investors in China between 2014 and 2017. After several years of hiding, she used fake documents to come to the UK to launder money through real estate. Her associate Seng Hok Ling (Malaysia) also admitted his role in the operation.
Previously, Jian Wen – Qian's "right-hand man" – was sentenced to over 6 years in prison for laundering hundreds of millions of pounds via BTC. British police stated that this case exposes the massive scale that criminals can manipulate through crypto.
According to the Metropolitan Police & Southwark Crown Court, Qian is being held awaiting sentencing on 10/11. The British government also affirmed: "The land of fog is not a safe haven for criminals."
❌ Disclaimer: This is just a summary news piece with a bit of light-hearted fun, not investment advice for buying or selling Bitcoin. Don't think holding 61,000 BTC will easily change your life!
#Bitcoin #CryptoNews #FraudCase #UKPolice #CryptoCrime
🚨Crypto mogul Do Kwon, known as ‘the cryptocurrency king,’ pleads guilty to fraud charges⚠️ 👉NEW YORK (AP) — South Korean cryptocurrency mogul Do Kwon pleaded guilty on Tuesday to two fraud charges arising from the $40 billion collapse of a cryptocurrency ecosystem that had promised investors their money was safe.
🧨Kwon, 33, dubbed by some as “the cryptocurrency king,” entered the plea in Manhattan federal court.
🧨According to a plea agreement signed by Kwon and prosecutors, the government said it will not seek a prison term of more than 12 years as long as Kwon complies with the deal’s terms, even though federal sentencing guidelines would have recommended a prison term of about 25 years. Sentencing is set for Dec. 11. 🚨Authorities said investors worldwide lost money in the Singapore crypto firm Terraform Labs’ $40 billion cryptocurrency crash. Kwon co-founded the company in 2018.
🔥The May 2022 collapse came after the company claimed that TerraUSD was a reliable “stablecoin.”TerraUSD was designed as a “stablecoin,” a currency that is pegged to stable assets such as the dollar to prevent drastic fluctuations in prices. However, around $40 billion in market value was erased for the holders of TerraUSD and its floating sister currency, Luna, after the stablecoin plunged far below its $1 peg. 👉Kwon was extradited to the United States on Dec. 31 from Montenegro after his March 23, 2023, arrest while traveling on a false passport in Europe⚠️$BTC
$ETH
$BNB
#REVABinanceTGE #ETH5kNext? #DeFiGetsGraded #CryptoFraudAlert #FraudCase
🧨Kwon, 33, dubbed by some as “the cryptocurrency king,” entered the plea in Manhattan federal court.
🧨According to a plea agreement signed by Kwon and prosecutors, the government said it will not seek a prison term of more than 12 years as long as Kwon complies with the deal’s terms, even though federal sentencing guidelines would have recommended a prison term of about 25 years. Sentencing is set for Dec. 11. 🚨Authorities said investors worldwide lost money in the Singapore crypto firm Terraform Labs’ $40 billion cryptocurrency crash. Kwon co-founded the company in 2018.
🔥The May 2022 collapse came after the company claimed that TerraUSD was a reliable “stablecoin.”TerraUSD was designed as a “stablecoin,” a currency that is pegged to stable assets such as the dollar to prevent drastic fluctuations in prices. However, around $40 billion in market value was erased for the holders of TerraUSD and its floating sister currency, Luna, after the stablecoin plunged far below its $1 peg. 👉Kwon was extradited to the United States on Dec. 31 from Montenegro after his March 23, 2023, arrest while traveling on a false passport in Europe⚠️$BTC
$ETH
$BNB
#REVABinanceTGE #ETH5kNext? #DeFiGetsGraded #CryptoFraudAlert #FraudCase
⚡Breaking Legal Twist in New York!⚡
New York appeals court ne ek $500M ka fine jo US President Donald Trump par fraud case me impose hua tha, throw out kar diya hai. Yeh faisla Trump ke liye ek badi legal victory hai aur US politics me phir se nayi debate shuru ho gayi hai.
Supporters isse justice served keh rahe hain jabke critics ise ek system loophole samajh rahe hain. Yeh development 2024 ke US elections aur global markets dono par asar dal sakti hai. 📊
👉 Aap kya sochte ho, yeh decision political relief hai ya sirf ek temporary win?
#Write2Earn #FraudCase #NewYork #USPolitics #BreakingNews @Binances Square @CryptoCommunity $TRUMP
New York appeals court ne ek $500M ka fine jo US President Donald Trump par fraud case me impose hua tha, throw out kar diya hai. Yeh faisla Trump ke liye ek badi legal victory hai aur US politics me phir se nayi debate shuru ho gayi hai.
Supporters isse justice served keh rahe hain jabke critics ise ek system loophole samajh rahe hain. Yeh development 2024 ke US elections aur global markets dono par asar dal sakti hai. 📊
👉 Aap kya sochte ho, yeh decision political relief hai ya sirf ek temporary win?
#Write2Earn #FraudCase #NewYork #USPolitics #BreakingNews @Binances Square @CryptoCommunity $TRUMP
Australian Banker Jailed After Stealing $489K in Crypto-Inspired Fraud
A former Australian banker, Dennis Nguyen, has been sentenced to 18 months in prison after scamming customers out of AUD 489,000, a scheme fueled by his personal loss in a crypto scam.
🪙 From Victim to Criminal
Nguyen, once an employee at National Australia Bank (NAB), fell victim to a crypto scam in 2021, losing AUD 20,000—nearly all of his savings. But rather than walking away, he took a darker path, using his insider knowledge to defraud others the same way he had been scammed.
🏦 Inside the Bank Fraud Scheme
Using confidential customer data from NAB, Nguyen created fake accounts at Commonwealth Bank and began transferring money from NAB customers into these accounts. He targeted those who had made extra payments on home loans, believing they were less likely to notice discrepancies.
While he managed to steal AUD 70,000 and AUD 50,000 in two early transactions, alert customers raised the alarm, and NAB reimbursed the losses. Nguyen was fired on November 26, 2021, and reported to authorities.
💰 The Second Job — And Second Scam
Shockingly, Nguyen secured another position at Judo Bank. There, he exploited a customer with multiple sclerosis, learning during a phone call that she had memory issues. He then drained AUD 167,500 from her account directly into his ANZ bank account, bypassing fake profiles altogether.
When questioned, Nguyen denied everything, claiming the victim had stolen his identity. He was once again fired and reported.
🕵️♂️ The Fake Manager Scheme
Nguyen didn’t stop. He assumed a fake identity as "Patrick," a supposed manager at Judo Bank, and began posting fraudulent reviews on comparison websites to lure in new victims. He claimed he could offer higher interest rates if contacted directly.
One person fell for the scheme and transferred AUD 200,000, which Judo Bank later refunded. Another couple nearly transferred AUD 500,000, but pulled out after Nguyen accidentally used his real name, Dennis, in an email.
🚨 Arrest and Sentencing
Nguyen was arrested and charged after defrauding multiple victims across two banks. He pleaded guilty to four fraud charges and three counts of theft.
Judge Samantha Marks acknowledged his troubled background, including a history of domestic abuse, a gambling-addicted father, and emotional distress, but said the serious nature of the fraud warranted a strong sentence.
Nguyen will serve 18 months in prison and will be eligible for parole in September 2026.
📉 Takeaway
This case highlights the long-term impact of financial scams and how unresolved trauma can lead victims down a criminal path. It’s also a wake-up call for institutions to tighten internal security and ensure proper background checks are conducted.
#BankFraud #CryptoScams #AustraliaNews #NAB #FraudCase
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🪙 From Victim to Criminal
Nguyen, once an employee at National Australia Bank (NAB), fell victim to a crypto scam in 2021, losing AUD 20,000—nearly all of his savings. But rather than walking away, he took a darker path, using his insider knowledge to defraud others the same way he had been scammed.
🏦 Inside the Bank Fraud Scheme
Using confidential customer data from NAB, Nguyen created fake accounts at Commonwealth Bank and began transferring money from NAB customers into these accounts. He targeted those who had made extra payments on home loans, believing they were less likely to notice discrepancies.
While he managed to steal AUD 70,000 and AUD 50,000 in two early transactions, alert customers raised the alarm, and NAB reimbursed the losses. Nguyen was fired on November 26, 2021, and reported to authorities.
💰 The Second Job — And Second Scam
Shockingly, Nguyen secured another position at Judo Bank. There, he exploited a customer with multiple sclerosis, learning during a phone call that she had memory issues. He then drained AUD 167,500 from her account directly into his ANZ bank account, bypassing fake profiles altogether.
When questioned, Nguyen denied everything, claiming the victim had stolen his identity. He was once again fired and reported.
🕵️♂️ The Fake Manager Scheme
Nguyen didn’t stop. He assumed a fake identity as "Patrick," a supposed manager at Judo Bank, and began posting fraudulent reviews on comparison websites to lure in new victims. He claimed he could offer higher interest rates if contacted directly.
One person fell for the scheme and transferred AUD 200,000, which Judo Bank later refunded. Another couple nearly transferred AUD 500,000, but pulled out after Nguyen accidentally used his real name, Dennis, in an email.
🚨 Arrest and Sentencing
Nguyen was arrested and charged after defrauding multiple victims across two banks. He pleaded guilty to four fraud charges and three counts of theft.
Judge Samantha Marks acknowledged his troubled background, including a history of domestic abuse, a gambling-addicted father, and emotional distress, but said the serious nature of the fraud warranted a strong sentence.
Nguyen will serve 18 months in prison and will be eligible for parole in September 2026.
📉 Takeaway
This case highlights the long-term impact of financial scams and how unresolved trauma can lead victims down a criminal path. It’s also a wake-up call for institutions to tighten internal security and ensure proper background checks are conducted.
#BankFraud #CryptoScams #AustraliaNews #NAB #FraudCase
Trade and buy from here $BTC
trade and buy from here $SOL
trade and buy from here $XRP
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