Swedish Crypto Fraudster Cops To $16M Investment Scheme

By Reenat Sinay (March 4, 2021, 5:39 PM EST) -- A Swedish hotelier accused of using the proceeds of a $16 million investment scam to buy a resort in Thailand pled guilty Wednesday to running the scheme and laundering money through various platforms, including popular cryptocurrency exchange Coinbase.

Roger Nils-Jonas Karlsson was arrested in Thailand in June 2019 and later extradited to the U.S. to face securities fraud, wire fraud and money laundering charges in California federal court for a scheme that swindled over 3,500 people, according to the government.

Karlsson operated the scam between 2012 and 2019, promising outlandishly lucrative returns via his company Eastern Metal Securities and through various online...

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