Former Crypto CEO Faces Fraud Charges Over Misappropriated Bitcoin Funds
22.10.2024 18:00 1 min. read Alexander Stefanov
The former CEO of Australian crypto exchange Mine Digital, Grant Colthup, has been charged with fraud for allegedly misappropriating $1.47 million from a customer trying to convert funds into Bitcoin.
The Australian Securities and Investments Commission (ASIC) reported that the customer sent $1.5 million to Mine Digital’s parent company, ACCE Australia, but did not receive the cryptocurrency.
Colthup is accused of using the funds to pay ACCE’s debts or purchase crypto for others, rather than facilitating the transaction. His case will return to court on December 16, with potential penalties of up to 20 years in prison under Queensland law.
Since Mine Digital’s collapse in September 2022, creditors have sought to recover $16 million, but initial investigations revealed only $20,000 in assets under ACCE’s control.
Brad Tonks from PKF has been appointed as the liquidator, and legal action against Colthup may be forthcoming to recover funds owed to creditors.
-
1
North Korean Agent Exposed in Crypto Job Scam at Kraken
04.05.2025 20:00 2 min. read -
2
ZachXBT Helps Freeze $7M After $330M Bitcoin Theft From Elderly Holder
05.05.2025 16:00 1 min. read -
3
$330M Bitcoin Heist Traced to Social Engineering Scam Targeting U.S. Senior
04.05.2025 12:00 2 min. read -
4
Samourai Wallet Case Faces Scrutiny After Allegations of Withheld Evidence
07.05.2025 13:00 2 min. read -
5
Alex Mashinsky Seeks One-Year Sentence as DOJ Pushes for 20 Years
08.05.2025 12:00 1 min. read
Man Sentenced to 30 Years for Using Crypto to Fund ISIS Operations
A U.S. court has handed down a 30-year prison sentence to Mohammed Azharuddin Chhipa, who was found guilty of financing terrorism through cryptocurrency.
Celsius CEO Sentenced to 12 Years Over $5 Billion Crypto Scandal
A major chapter in crypto’s legal reckoning closed this week as Alex Mashinsky, once a prominent name in digital lending, received a 12-year prison sentence.
Alex Mashinsky Seeks One-Year Sentence as DOJ Pushes for 20 Years
Former Celsius CEO Alex Mashinsky is asking for a significantly reduced prison sentence ahead of his May 8 sentencing, with his legal team pushing back hard against the U.S. Department of Justice’s call for a 20-year term.
Samourai Wallet Case Faces Scrutiny After Allegations of Withheld Evidence
The legal battle against the creators of Samourai Wallet has taken a sharp turn, as defense attorneys accuse federal prosecutors of suppressing a key legal interpretation from the Treasury Department that could dismantle the core of the government’s case.
-
1
North Korean Agent Exposed in Crypto Job Scam at Kraken
04.05.2025 20:00 2 min. read -
2
ZachXBT Helps Freeze $7M After $330M Bitcoin Theft From Elderly Holder
05.05.2025 16:00 1 min. read -
3
$330M Bitcoin Heist Traced to Social Engineering Scam Targeting U.S. Senior
04.05.2025 12:00 2 min. read -
4
Samourai Wallet Case Faces Scrutiny After Allegations of Withheld Evidence
07.05.2025 13:00 2 min. read -
5
Alex Mashinsky Seeks One-Year Sentence as DOJ Pushes for 20 Years
08.05.2025 12:00 1 min. read