Former CEO of Mine Digital Cryptocurrency Exchange Charged with Fraud by Australia’s ASIC
In the latest update from ChainCatcher, sourced from Jin10, former Mine Digital CEO, Grant Colthup, stands accused of a fraudulent act for the purported embezzlement of around $1.47 million (2.2 million AUD) belonging to a customer who was looking to purchase Bitcoin.
The regulatory body, the Australian Securities and Investments Commission (ASIC), disclosed in an announcement dated October 21 that a client transferred $1.5 million to ACCE Australia but did not receive the promised Bitcoin in return.
ASIC alleges that Colthup may have redirected these funds to clear the debts of ACCE, utilized them to acquire cryptocurrency for third parties, or for a combination of these purposes.
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