The United States Securities and Exchange Commision has issued a statement regarding the recent exposed fraud case. As it appears, a trader has allegedly moved stolen funds to Bitcoin to avoid detection – fruitlessly. His name is Joseph Willner, and he is accused of account takeover, stealing funds from many brokerage accounts and then using these funds to manipulate the stock prices for his benefit.
The SEC has lately opened the special Cyber Unit that will focus, apart from other issues, on cryptocurrency frauds. This case is one of the first ones it investigates, as the unit was established in September. As the statement posted on the official SEC website tells, Joseph Willner will not only face criminal charges, he will have to pay compensations to all the people he had stolen from.
There has been another arrest of individual Bitcoin trader lately, and in this case, this individual did not steal from anybody, he only sold a sum of Bitcoin equal to $150,000 and thus violated the U.S. legislation on currency transfer and exchange. As the indictment tells, this was a violation of Title 31, United States Code, Section 5330. He was arrested in Michigan after federal agents, posing as buyers, successfully acquired a sum of $56,000 in BTC.