U.S. Trader Fined $1.1 Million and Sentenced to 15 Months for Commiting Bitcoin Fraud – Aisshwarya Tiwari

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According to a report by Bloomberg, published November 13, 2018, U.S. resident named Joseph Kim has been fined $1.1 million and sentenced to 15 months in prison for orchestrating fraudulent schemes related to bitcoin (BTC), and litecoin (LTC), thus duping his employer and several other customers of their money. In 2017, the U.S. Commodity Futures Trading Commission (CFTC) found out that Kim had transferred $601,000 worth of bitcoin and litecoin from his employer’s cryptocurrency exchange wallet to his wallet. The misappropriation of funds was done sometime between September and November 2017, when Kim used to work for a Chicago based trading firm…………

Read more: https://btcmanager.com/u-s-trader-bitcoin-fraud/

 

 

 

 

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