It seems like people just can’t help themselves, as yet another criminal has admitted to stealing Bitcoin (BTC) collectively worth $16 million. Roger Nils-Jonas Karlsson is the man in question, and he shall be spending the next 15 years in federal prison in what will hopefully set an example for anyone else who might be considering conducting similar illegal acts.

Karlsson is a Swedish resident, and he had finally pleaded guilty to stealing the aforementioned BTC worth millions of dollars from over 3,500 people after successfully luring them into a deceptive investment scheme which was ultimately revealed to be a scam. Roger had been charged with crimes of embezzlement of over $16 million resulting from his fraudulent and illegal actions, which had culminated in his prison sentence of 180 months.

Yet another scam

The DOJ (Department of Justice) announced that Roger had willingly and knowingly participated and facilitated a ‘Ponzi scheme,’ which is not uncommon in the crypto industry. This scam had been operational from 2012 to 2019, during which Karlsson had persuaded over 3,500 individuals to give him funds (all paid in BTC) along with various other digital assets. Roger then admitted to using these funds for his own personal benefits.

In 2012, Roger and Eastern Metal Securities (his company) began luring customers into a fraudulent ‘Pre-Funded Reversed Pension Plan.’ Through this plan, Karlsson had started promising the investors that a pay-out will eventually happen and 1.15 kg of gold will be handed out per $100 share. At the time, gold had been worth just about $45,000.

Moreover, Roger had even managed to offer forged financial statements to his clients and made a promise that the money was safe in his hands and that there was nothing to worry about. The scam had been successful for a long time until he had eventually gotten caught and arrested whilst he was visiting Thailand back in 2019, after which he was eventually extradited to the United States.

Chemical weapon purchased with BTC

There had been another recent incident pertaining to the purchase of a lethal chemical weapon by Jason William Siesser, a Missouri resident. He had attempted to buy the weapon via the ‘Dark Web’ and wanted to make the purchase via BTC. What is even more alarming is that Jason admitted to wanting to use the weapon to conduct a terrorist attack and kill hundreds of people.

Thankfully, he was caught before he could carry out his heinous plans. This is, unfortunately, just another example of how cryptocurrencies are being used for evil purposes.