A Swedish citizen extradited to the United States for running a cryptocurrency fraud scheme has pleaded guilty to obtaining more than $16 million from his victims after promising them profits in gold, the US Justice Department said in a news release on Thursday
WASHINGTON (Pakistan Point News / Sputnik - 04th March, 2021) A Swedish citizen extradited to the United States for running a cryptocurrency fraud scheme has pleaded guilty to obtaining more than $16 million from his victims after promising them profits in gold, the US Justice Department said in a news release on Thursday.
Roger Nils-Jonas Karlsson, 47, was arrested in Thailand on June 17, 2019 and charged with a US criminal complaint for using his company - Eastern Metal Securities (EMS) - to defraud more than 3,500 people.
"Karlsson pleaded guilty to all the charges pending against him. EMS has ceased to exist," the release said.
The Justice Department explained that Karlsson used EMS between November 27, 2012 and June 19, 2019 to make fraudulent representations and convince victims to send funds using a virtual currency exchange.
During the same period, Karlsson and EMS used deceptive "devices and contrivances" to sell securities and then tried to conceal the proceeds of the wire fraud and securities fraud.
Karlsson admitted to prosecutors that he had no way to pay off the investors and transferred their funds to his personal bank accounts and then used proceeds to purchase expensive homes and a resort in Thailand.
Karlsson faces a maximum sentence of 20 years in prison and a maximum $250,000 fine for the wire fraud and securities fraud charges, and 20 years in prison and a $500,000 maximum fine for the money laundering charge, the release said.
The court may order an additional term of supervised release, fines or other assessments, and restitution, the release added.
