Swede gets 15 years for gold-backed crypto fraud

Finally, he's guilty and got a 15-year sentence. Promised huge returns and tricked a bunch of investors. The court took away all his assets, even a resort in Thailand, so he can pay back the people he ripped off. Really hope this serves as a costly lesson for newbies not to get caught up in these too-good-to-be-true scams.

What should he expect, to run away for a long time and enjoy life with the money he made through scam, i wish to hear more news like these popping up every week. The newbie lesson will keep on continuing and there will be no shortage about that even though we hear and see about these scams they tend to fall for these, the problem is that they do not spend time learning about the market and all they hear is the amount of profits someone made in the past and they also wanted to make money quickly and that is when they feel in to the trap of the scammer.

He deserves his sentence and do hope that his accomplice will have the same jail time. Also hoping that the government will pay the victim here. At least the government did their thing here, chasing him in Thailand wherein he felt he was safe and not in reach of the law. Yeah, this should be a lessons for newbies, but I doubt it. We might hear another of this kind of news specially around the crypto hype. Remember in 2017 there was a lot of similar scams, and yet it keeps on repeating over and over again.

You want the government to pay the victims from its own pocket to award their stupidity? I hope that doesn't happen. Government bailouts are never a good thing. Everybody knows that playing the crypto game is like playing with fire. Sometimes you make a fortune but the other times, it burns your hand. The scammer deserved his punishment too. It will be a long 15 fucking years in the can.

I may have put the wrong words here. What I meant is that the government chase after the properties of the perpetuator/s liquidate all their assets so that they can pay the victims. It is reported that he has a lot of properties, including one in Thailand where he hides. It will not come from the government pockets per se. I hope I clear with this one.

Such scams are as old as the history of mankind, and they will not stop happening. Not only are they blinded by the promise of getting rich quick, they also have a component of thinking they are smarter than anyone else. If you try to make them see that what they are investing in looks bad, they even get angry because they think that the fool is you, that you don't understand it and don't want to invest in it.

You might want to include the "updated link" as well since on the older version, it mentioned "20 years in prison" twice [40 years] for two different charges: - It's a shame that they've given him a reduced sentence. Unfortunately, I don't think that's going to be good enough for newbie investors; from time to time, I still see some of the "veteran investors" falling for such scams.

It sucks that people are still being lured into false hopes and scam schemes by these individuals. Good thing he was arrested, and confessed to his deeds to not waste the public's tax money for long. It's also good that the government will find ways to give something back to the victims by liquidating the man's assets. 15 years is an awfully short amount of time for such cases, especially if it potentially destroyed lots of lives. Either way, he got what he's asking for when he committed fraud, and that's all that matters.

yep believe me scammer nowadays getting smart and wrap some b**s*hit with very good not just newbie maybe some pro itself can fall for it in my opinion we must never stop learn and always do research before fall again in the same hole or another hole and yeah maybe this man getting arrested but i hope everyone who scammed getting karma and when you are scammer "Karma never loses an address"

Then that makes sense. Usually scammers like him already transfer the funds to somewhere else before they get caught but sometimes they leave some other stuff behind like real estate as you said. I don't if they will be enough to make the victims whole but I guess it is better than nothing.

They arent dumb on not to secure those funds and you can simply hide all of those coins on a  wallet and wont tell about its seed and youre good to go but somehow its been mentioned about properties then these are the only things that could be possibly get and other assets as well and trying to pay those investors but for sure it would really be just on small scale considering that it is a total of $16M which is something you cant really imagine for it to be given back. It is just right for those scammers or criminals to face up charges like this.Any crime do really need these kind of consequences.I dont know if its just me or what but 15 years in prison isnt just too short for this one? 30 years would be better.

Money laundering laws in my country are more strict, but I did not follow the details of the case to judge it. I am surprised by the mechanism of refunding money. Shouldn't it include compensation for all victims? I don't think he will leave much money in the form of assets, so selling them may not generate $16 million. It would have been better if the sentence was 15 years with the full payments being paid. being in prison is a warning to those who want to achieve quick profit by fraud, you may enjoy free money now, but it will all end in prison.