On Thursday, a Swedish man was sentenced to 15 years in prison for stealing more than $16 million in cryptocurrency through a false investment scam.
47-year-old Roger Nils-Jonas Karlsson persuaded at least 3,575 people to invest in a fraudulent scheme called “Oriental Metal Securities” and sent him funds in the following form Bitcoin According to the US Department of Justice (DOJ), he subsequently used other cryptocurrencies for personal enrichment. He pleaded guilty to charges of money laundering, securities fraud and wire transfer fraud on March 3.
“The investigation of Roger Karlsson’s fraud has revealed a frighteningly ruthless plan that lasted for more than a decade, during which Karlsson targeted thousands of victims, including economically vulnerable seniors, and robbed mercilessly. All of their assets are to promote luxury apartments and luxurious international holidays,” Acting US Attorney Stephanie Hinds said in a statement.
“The court’s decision to sentence 180 months in prison reflects the fact that Carlson’s cryptocurrency Ponzi scheme is one of the largest scams sentenced to date, and ensures that Carlsen now has enough time to consider what he did to himself The injury. Victim,” Heinz added.
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In exchange for a single share with a price of less than US$100, Carlson promised investors a final return of 1.15 kilograms of gold-worth approximately US$45,000 when the plan was implemented. Karlsson provided victims with false financial statements and updates to reassure them of the safety of their funds, while falsely claiming to be cooperating with the Security and Exchange Commission, and providing other fictitious explanations to those asking questions about the delay in expected expenditures.
Karlsson was convicted of crimes that began at the end of 2012 when they used the websites www.easternmetalsecurities.com and www.hci25.com to purchase so-called “pre-funded reverse pension plans” by online investors. Many people targeted by Karlsson are already financially insecure. Fake investment plans will only help their financial situation worsen. Carlson used their money to buy several luxury homes, a racehorse and a resort for himself in Thailand.
The scam continued until Karlsson was arrested in Thailand and extradited to the United States in 2019 to face charges. As part of the verdict, he was ordered to confiscate the Thai resort and several other properties and repay the victim with US$16,263,820. The United States is seeking a compensation order on behalf of Carlson’s victims, which is expected to be submitted to court within 90 days.
Carlsson’s sentence could have been longer. The crime he is accused of is punishable by a combined sentence of up to 40 years.He was sentenced by the U.S. District Judge Charles R. Breyer, who was Supreme Court Justice Stephen Breyer.
Newsweek contacted Carlson’s lawyer and the Department of Justice for comments.
