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Investigation Unveils Bitcoin Fraud Network in Lancashire

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by Giorgi Kostiuk

10 months ago

A man in Lancashire was recently arrested in connection to a Bitcoin fraud that resulted in the theft of £28 million from an Australian cryptocurrency website.

The Fraud and Theft

James Parker, from Lancashire, discovered a loophole in a cryptocurrency trading site in 2017, which he exploited alongside accomplices to steal funds. Parker allegedly used the funds to support his lavish lifestyle.

Investigation and Arrests

Lancashire police, with the assistance of international law enforcement from Australia, Finland, and other regions, conducted an extensive investigation. During raids, 445 BTC, luxury watches, cars, and designer goods were seized. Parker died in 2021 before facing trial.

Court Cases and Consequences

In January 2023, sentences were handed down to the other participants. Jordan Robinson and Kelly Caton were each sentenced to eight and a half years in prison, while James Austin-Beddoes received a suspended sentence. At the Proceeds of Crime Act hearing, seized assets from participants were used to compensate victims.

This complex operation demonstrated the effectiveness of international cooperation in combating financial crimes.

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