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A 23-year-old man from the Canadian city of Halifax was sentenced to 12 months of community service. The court decided that the Canadian embezzled 10,000 pounds (about $12,600), which a resident of the Scottish city of Aberdeen invested in a cryptocurrency project.
Benjamin Riley, according to the verdict of the court, is obliged to work 200 unpaid hours on charges of fraud with cryptocurrencies. The Canadian, the court decided, positioned himself as a cryptocurrency trader and promoted his services through social networks. The young man said that he independently developed a computer program with which users could receive a high income from investing in cryptocurrencies.
In September 2021, a 30-year-old man from Aberdeen invested 10,000 pounds in the project, of which 8,000 pounds (about $10,000), the court insists, was appropriated by Riley. Scottish law enforcement officers began investigating the case in January 2022, when one of the investors noticed that the investment chat with Riley was deleted, and access to the investor's money was not available. Banks and an unnamed cryptocurrency exchange were involved in the investigation.
"Investments in cryptocurrencies can bring high returns, but they are unpredictable. Scammers can promise high returns on their investment to attract more people. Unfortunately, cryptocurrencies are not fully regulated, so the security of these investments is not guaranteed. Victims of cryptocurrency criminals are located all over the world, so despite the close partnership with other law enforcement agencies and financial institutions, we can only investigate crimes that are committed in Scotland," the local police issued an announcement.
Benjamin Riley, according to the verdict of the court, is obliged to work 200 unpaid hours on charges of fraud with cryptocurrencies. The Canadian, the court decided, positioned himself as a cryptocurrency trader and promoted his services through social networks. The young man said that he independently developed a computer program with which users could receive a high income from investing in cryptocurrencies.
In September 2021, a 30-year-old man from Aberdeen invested 10,000 pounds in the project, of which 8,000 pounds (about $10,000), the court insists, was appropriated by Riley. Scottish law enforcement officers began investigating the case in January 2022, when one of the investors noticed that the investment chat with Riley was deleted, and access to the investor's money was not available. Banks and an unnamed cryptocurrency exchange were involved in the investigation.
"Investments in cryptocurrencies can bring high returns, but they are unpredictable. Scammers can promise high returns on their investment to attract more people. Unfortunately, cryptocurrencies are not fully regulated, so the security of these investments is not guaranteed. Victims of cryptocurrency criminals are located all over the world, so despite the close partnership with other law enforcement agencies and financial institutions, we can only investigate crimes that are committed in Scotland," the local police issued an announcement.
