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Criminal of Money Laundering and Identity Theft Imprisoned!

Crypto criminal imprisoned for money laundering and identity theft.

A resident from Sidney, Australia has been sentenced to 16 months in prison following an arrest last June after the authorities had been tipped off by a crypto company he had dealt with in order to deposit the stolen bitcoins.

The suspect had pleaded guilty to seven counts of money laundering, one charge for identity theft and a drug offense.

To withdraw a total of $43,350, he had used his new found identities to withdraw the money from different crypto ATMs provided by BitRocket. But BitRocket informed the law enforcement that something fishy has been going on in the wake of the first few transactions – then leading to the man’s arrest while trying another withdrawal. His apartment has been searched, where the police have found a small amount of methamphetamine, and also $6500 in cash.

Different Identities Used

The spokesmen for law enforcement have stated that a total of seven false identities have been used by the suspect in another crypto money laundering case in these past few months.

Thomas Walker, the AFP Cybercrime Detective acting inspector said that the use of false identities could slow down the police work considerably, since there is a risk of capturing an innocent person who could not be aware that their identity has been stolen.

“Criminals are continually trying to identify new opportunities to profit at the expense of other people, but we are focused on identifying and stopping anyone who tries to cheat the system and defraud others.”

Thomas Walker, AFP Cybercrime Detective Acting Inspector

Though the law enforcement representatives are not sure as of now, they suspect that the Bitcoins have been stolen back in 2019. Detectives also investigate whether the man is part of a bigger cybercrime group, or a “lone wolf.”

As of now, the alleged money launderer has already spent a total of 9 months behind bars – and will be eligible for parole after 12 months in custody.

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