Cryptocurrency Fraudster Steals $16m

Cyber Security News

A Swedish businessman has admitted conning hundreds of victims out of tens of millions of pounds with a reversed pension cryptocurrency expense fraud.

Roger Nils-Jonas Karlsson pleaded guilty today to securities fraud, wire fraud, and money laundering rates that he defrauded 3,575 victims of much more than $16m.

Karlsson and his now defunct enterprise, Jap Metal Securities (EMS), had been charged in a legal grievance submitted on March 4, 2019. The 47-calendar year-old, who employs at minimum 6 different aliases such as Euclid Deodoris and Paramon Larasoft, was arrested three months afterwards in Thailand and extradited to the United States.

From November 2012 to June 2019, Karlsson and EMS made use of the web-site to make bogus representations and convince victims to obtain shares in a “pre-funded reversed pension plan” (PFRPP) working with digital forex.

Victims were being promised an eventual payout of 1.15 kilograms of gold for each $100 share. Karlsson gave his traders a warranty that if the gold payout failed to materialize, he would refund 97% of their financial investment.

In truth, Karlsson transferred the funds despatched to him by traders into his have private bank account then applied it to purchase highly-priced residences and a vacation resort in Thailand. He admitted to US authorities that he experienced no way to fork out again buyers.

Karlsson utilised a second website,, to make a number of untrue communications to possible buyers built to delay the second when buyers understood that they would not be finding their cash back.

Amongst the lies explained to by Karlsson by using the website was a person that said EMS was operating with the US Securities and Trade Fee to get ready the way for a payout. One more stated the payout experienced to be delayed due to the fact releasing so significantly income at once would negatively influence the world’s monetary devices.

The web-site has been seized, according to a warrant issued by the United States District Courtroom for the Northern District of California.

Karlsson faces a most sentence of 20 many years in jail and a most $250,000 high-quality for the wire fraud and securities fraud expenses, and 20 several years in jail and a $500,000 optimum wonderful for the cash laundering cost.