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Friday, March 29, 2024

Swedish man pled guilty to operating a $16 million crypto fraud business from Thailand

Photo: FM

A Swedish national charged with running an international scheme from Thailand that defrauded more than 3500 victims in 46 countries recently pled guilty in a US federal court, reports Finance Magnaets.

The Securities and Exchange Commission (SEC) accused the Swedish man, Roger Nils-Jonas Karlsson, and his company, Eastern Metal Securities (EMS), of engaging in a scheme that gathered more than $ 16 million in cryptocurrency. Karlsson created his scheme in late 2012 allegedly using two websites, www.hci25.com and www.easternmetalsecurities.com, to encourage victims to invest using cryptocurrencies in a ‘Pre Funded Reversed Pension Plan’.

Karlsson operated his scheme from Thailand, his country of residence, and used several aliases to mask his fraud including Steve Heyden, Euclid Deodoris, Joshua Millard, Lars Georgsson, Paramon Larasoft, and Kenth…

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