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Swedish Crypto Scammer Sentenced To 15 Years Jail

Blockchain Tech

A Swedish man wanted by the US for defrauding over 3,500 victims of more than US$16 million has been sentenced to 15 years in prison for fraud and money laundering.

Roger Nils-Jonas Karlsson, 47, ran an investment fraud scheme from 2011 until his arrest in Thailand in June 2019 and pleaded guilty in March.

Karlsson allegedly encouraged victims to buy shares in a scheme called Eastern Metal Securities using cryptocurrencies like bitcoin, promising astronomical returns tied to the price of gold.

The funds paid by these victims were instead directed to Karlsson’s personal bank accounts, where the money was put toward expensive homes, a racehorse, and a resort in Thailand.

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