Bitcoin Fraudsters Ordered to Repay £24 Million in Landmark Case

A group of cryptocurrency fraudsters from Lancashire has been ordered to repay £24.5 million after exploiting a flaw in an Australian trading platform in 2017. James Parker, along with Stephen Boys, Kelly Caton, and Jordan Robinson, illicitly gained over £20 million in credits. The trio was convicted of money laundering in January 2023.

Lancashire Police recovered assets worth over £28 million, including 445 Bitcoins, luxury items, and properties. The victim has been fully reimbursed, with surplus funds allocated to authorities.

The scheme’s success allowed Parker to distribute lavish gifts, while Boys admitted to using cash for illicit purchases and bribes. Detective Sergeant Dave Wainwright commended the investigation, noting the defendants face further jail time if they fail to repay.

This case highlights the risks of cryptocurrency investments, with authorities urging caution and due diligence.

Link to BBC article: Blackpool Bitcoin crypto fraudsters ordered to repay £24m – BBC News

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