Swedish crypto scammer has been sentenced to 15 years in prison

Swedish-crypto-scammer-has-been-sentenced-to-15-years-in-prison

July 12, 2021: -On Thursday, a Swedish man wanted by the U.S. for defrauding above 3,500 victims of over $16 million has been sentenced to 15 years in prison due to securities fraud, wire fraud, and money laundering, according to the Department of Justice.

The DOJ said that the 47-year-old Roger Nils-Jonas Karlsson ran an investment fraud scheme from 2011 till he got arrested in Thailand in June 2019. He pleaded guilty in March.

Karlsson encouraged victims to buy shares in a scheme known as “Eastern Metal Securities” using cryptocurrencies such as bitcoin, promising “astronomical returns” tied to the price of gold, according to court documents.

The victims who paid the fund were instead directed to Karlsson’s bank accounts, where the money was put for expensive homes, a racehorse, and a resort located in Thailand.

Karlsson has been ordered to forfeit this Thai resort and a few other properties and accounts as part of the sentence.

Karlsson maintained the ruse by offering updates and account statements to victims. He clarified delayed payouts by claiming to be working with the Securities and Exchange Commission, which is not true.

Karlsson’s fraud can target financially insecure investors, and the U.S. is seeking restitution on behalf of those victims.

In addition to paying back $16,263,820, a restitution order is expected to be entered by the court within 90 days.

Victims not in contact with the U.S. Attorney’s Office for the Northern District of California are encouraged to submit information soon.

Editor's Choice

Posts You Might Like

Teaching Value & Integrity | Steve Jani

The Fort McMurray First Nation Group of Companies is the wholly owned business entity of Fort McMurray 468 First Nation. It was established in 1987 as Christina River Enterprises, and the organization rebranded as FMFN Group in 2021. Providing Construction, Custodial, Petro-Canada Fuel & Convenience Store, and Transportation services to a broad portfolio of customers, the Group of Companies is creating financial stability and prosperity for the Nation.

A Resilient & Innovative Leader | Maushum Basu

Maushum Basu is a visionary leader who inspires his team with a clear, compelling purpose. Unafraid to take calculated risks, he understands that growth often stems from change and innovation. His deep commitment to both Airia Brands, Inc.

Directing with Courage & Precision | Martin Paquette

When speaking with Martin Paquette, one thing is immediately apparent: he’s honest. His transparency is refreshing. While many shy away from such vulnerability, Paquette sees it as a force to reckon with. The incredible emotional intelligence speaks to years of looking within—it’s also what allows him to acknowledge his mistakes gracefully and use them as opportunities to innovate.

An Innovative Thinker | Marina Charriere

Marina Charriere, CEO of Star Drug Testing Services, Star Drug Testing Services (Windsor Park), and First Defence Face Masks go hand in hand. Star is a drug and alcohol testing facility, and First D F M is a face mask company.

Leave us a message

Subscribe

Fill the form our team will contact you

Advertise with us

Fill the form our team will contact you​