Arizona Bitcoin Fraudster Gets Year and a Half in Jail

[kreslik.news]

24 year old Joseph Kim of Phoenix, Arizona, has been sentenced to 15 months in prison for cryptocurrency-related fraud, according to the Illinois US Attorney’s Office.

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Specifically, he has been convicted of stealing at least $600,000 in Bitcoin and Litecoin from an ex-employer and $545,000 from personal friends, making a total of $1.145 million dollars. He used the proceeds for his personal enrichment.

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Kim worked as an assistant trader for Consolidated Trading, a Chicago-based firm which offers trading in currencies and commodities. The company recently opened a cryptocurrency trading desk. ... (read more)