A Danish man has himself to blame after his criminal past led police to unearth an ongoing Bitcoin crime. The man whose name has been withheld was caught helping criminals launder money using Bitcoin. This has led the court to sentence him a three years’ jail term.
Appearing before a judge in court, the man said that he knew the money he received in large quantities was from questionable sources. However, even with such knowledge, the man went ahead to convert the cash into Bitcoin and giving ownership to the same individuals who sent the cash.
According to Troels Jul Kjærgaard, the police commissioner investigating the case:
For us, this case sends a clear signal that the police are also present digitally. We have the competencies, and we are willing to prioritize the resources to investigate complex cases on the Internet.
However, the discovery of the Bitcoin crime was as a result of another case which the Danish police was investigating. The Bitcoin case led the police to unearth other crimes committed by the man. In the past, the man compromised computer systems belonging to other people and tapped the computers’ processing power.
The other case which gave police officers a clue of an ongoing Bitcoin crime involved extortion. But it was until the police read between the lines and the man’s illegal Bitcoin usage was captured. The police said he is also involved in the extortion case. Other things unearthed during the investigation include used credit cards and suspicious loans.
Two more men were arrested and charged in connection with the extortion case which led to the Bitcoin crime scene.
Do you think criminals are laundering money using Bitcoin and other cryptocurrencies by using other less suspicious people to do the conversions?
You may also be interested in:
- A new report shows a different cryptocurrency path for al-Qaeda and ISIS
- A U.S court indicts an ‘experienced crypto trader’ for duping investor