Breaking News

Dutch Man Arrested Over $2.2 Million

Views: 34

          A 33-year-old Dutch man arrested in the Netherlands over  bitcoin mining worth $2.2 million fraud

Dutch Man Arrested Over $2.2 Million Bitcoin Mining Fraud

A 33-year-old  Dutch man arrested in the Netherlands over bitcoin mining fraud worth over €2 million ($2.2 million).

Dutch tax authority’s investigative department, FIOD, announced the news Monday, saying that the man was a director of two private limited companies where he convinced around 100 people to buy computers for mining bitcoins that he probably never purchased.

The Dutch man arrested is accused of fraud, forgery, and money laundering, the department said, adding that he allegedly spent investor money on luxury items such as cars, motorbikes, travel, and gambling.

The suspect started his businesses in 2017 by promising investors return of around 0.3 bitcoin a month (currently worth around $2,389). When investors did not get the returns and their mining computers back, several of them filed complaints.

Back in November 2018, the FIOD and police raided the Dutch man home and business premises and seized expensive goods such as bags, shoes, and a bike.

The FIOD said fighting money laundering is the priority for the government as it is one of the “serious” crimes.

Earlier this year, Dutch financial authorities were planning a licensing scheme for cryptocurrency firms to prevent money laundering and terrorism financing.

De Nederlandsche Bank (DNB), the nation’s central bank, and the Netherlands Authority for the Financial Markets suggested that fiat-to-crypto exchanges and custody solution providers must be licensed as cryptocurrencies carry “high financial crime risks.”

Source:News Now.

Kombackblog

Recent Posts

Best Anti-Theft Rolling Gates for Homes in Nigeria

  A New Anti-Theft Rolling Gates for Residential Homes in Nigeria   Why Anti-Theft Rolling…

22 hours ago

Best Designer Palm Slippers for Men in Nigeria — 2025 Picks

The Ultimate Guide to the Best Designer Palm Slippers for Men(2025) — (Nigerian Buyers’ Edition)…

6 days ago

How To Spot Fake Designer Shoes In Lagos 2025

How To Spot Fake Designer Shoes in Lagos 2025: The Ultimate Buyer’s Guide In Lagos,…

1 week ago

Top 10 Ankara Fashion Trends in Nigeria 2025

Must-See: 10 Ankara Fashion Trends Taking Over Nigeria 2025   Are you ready to refresh…

1 week ago

How to Care for Your Smartphone in Nigeria Easily

How to Care for Your Smartphone in Nigeria Easily Smartphones have become a big part…

2 weeks ago

Meaning of Nsibidi Symbols – Ancient African Code

Unlocking The Mysteries: Exploring The Fascinating World of Nsibidi Symbols and Their Profound Meanings Nsibidi…

2 weeks ago