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New Zealand police arrested ...

New Zealand police arrested $ 140 million by Alexander Vinnik
CONTENT

  • Vinnik’s assets arrested by New Zealand police

  • A fraudster awaits trial in a French prison

  • Scammers choose cryptocurrencies for their activities

International consortium of news organizations developing transparency standards.

The investigation into the case of Russian businessman Alexander Vinnik, who is suspected of organizing a fraudulent scheme and laundering millions of dollars, continues. New Zealand law enforcement arrested a record $ 140 million that belonged to the fraudster while he himself is under arrest in France.

SVS, VTS-E and other criminal schemes of Vinnik

 

New Zealand police arrested ...

The investigation of the case of Alexander Vinnik, who is accused of several articles at once, was joined by the US tax service, the police of New Zealand and France. In particular, he was charged with laundering the proceeds of illegal financial activity, cybercrime, including computer hacking, ransomware attacks, theft, fraud, corruption and drug-related crimes. The loudest criminal scandal was the creation of the BTC-e cryptocurrency exchange. Vinnik and a group of accomplices who worked in the Canton Business Corporation (CBC) company he created were convicted of embezzling depositors’ money. Despite the fact that the company was officially registered in the United States, the criminals kept all the proceeds in accounts in New Zealand..

After Vinnik’s arrest in 2017 in Greece, all of his accounts were seized, including a New Zealand bank account. This is the first time they arrest such a huge sum of $ 140 million, according to New Zealand Police Commissioner Andrew Coster..

“These funds were probably obtained after deceiving thousands, if not hundreds of thousands of people around the world as a result of cybercrime and organized crime,” he explained..

In turn, the New Zealand police are actively fighting against money laundering. The report states that “the global criminal community must understand New Zealand’s financial system, and the companies set up here are not places to try to hide illegal income.”.

Now law enforcement agencies are ready to work closely with the US and French police to disclose the entire list of crimes committed by Alexander Vinnik and his accomplices.

Vinnik himself is under arrest in France and awaiting trial.

QuadrigaCX and other cryptocurrency scammers

 

Alexander Vinnik was not the only criminal who decided to make money on cryptocurrency fraud. Gerald Cotten, the founder of the notorious cryptocurrency exchange QuadrigaCX, stole $ 125 million from his investors.And although, according to official information, the founder of the crypto exchange died from a sudden exacerbation of Crohn’s disease during a honeymoon in India, the victims of the fraudster still do not believe in his death and require exhumation.

New Zealand police arrested ...

When it became known about the alleged death of Gerald Cotten, more than 76,000 users were unable to access their wallets, and money in the amount of 190 million Canadian dollars hung on the resource. This was due to the fact that Cotten was the sole owner of the keys to the exchange’s wallets. He did not transfer information with the key code to anyone, so no one could get access to the exchanger.

Later Ernst & Young revealed that after the death of the founder of QuadrigaСХ, money from the exchanger was withdrawn to other cryptocurrency wallets and to Cotten’s personal accounts. Who could have done this if only Gerald himself had access keys?

At the same time, Ernst & Young, which is now collecting claims from affected clients, has filed $ 300 million in claims from investors.

As BeInCrypto previously reported, EY was still investigating the incident in May this year. At the moment, the investigation has been completed and the Ontario Securities Commission is ready to announce its verdict..

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