Swedish citizen gets 15 years in prison for cryptocurrency fraud

July 12, 2021

Swedish citizen gets 15 years in prison for cryptocurrency fraud

A court in the US has sentenced Swedish citizen Roger Niels-Jonas Karlsson, 47, to 15 years in prison for securities fraud and money laundering. This is according to a statement from the Ministry of Justice.

He had been encouraging investors to invest in bitcoin and other assets at Eastern Metal Securities since 2011, promising "astronomical returns". According to authorities, Karlsson spent the money to buy expensive houses, a racehorse and a resort in Thailand.

The amount of damages was estimated at more than $16 million.

In November 2019, Karlsson was extradited to the US from Thailand. On 4 March 2021, the Swede pleaded guilty.

Previously, the founders of cryptocurrency project Dropil, Jeremy McAlpin and Zachary Matar, agreed to plead guilty to nearly $1.9 million in ICO fraud.

As a reminder, the US Secret Service has included several individuals whose crimes are related to cryptocurrencies in its "Most Wanted Fugitives" list.Enter your text here...

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About the author

Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

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