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Swedish gold-for-cryptocurrency scammer finally extradited to US

He allegedly conned over 3,500 people for over $11 million

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A Swedish citizen has been extradited from Thailand to the US. The Swede is facing charges of securities fraud, wire fraud, and money laundering based on a heinous cryptocurrency investment con he’s run since 2006.

According to a US Department of Justice release, Roger Nils-Jonas Karlsson was extradited yesterday after being arrested in Thailand in June this year.

As Hard Fork has previously reported, Karlsson and his company, Eastern Metal Securities (EMS), were charged earlier this year following a complaint that claimed he had been running a gold-based investment scam.

Karlsson reportedly used a website to invite potential investors to buy shares in exchange for an eventual payout of in gold. However, the funds were never used to buy gold. Rather, they are tied up in real estate in Thailand, and not returned in any way to the investors.

The accused reportedly offered investments in shares of gold for $98 per share. Karlsson said each share would lead to a payout of 1.15 kilograms of gold. That’s insane, when you consider that the same weight in gold would cost you over $47,000 in the US at the time of writing.

The scammy website used by Karlsson directed investors to make investments in cryptocurrencies, such as Bitcoin.

According to the DoJ statement, Karlsson allegedly defrauded more than 3,750 victims of over $11 million.

It should also be noted that this indictment and extradition is to have Karlsson present in court to defend these allegations. He is yet to be found guilty of the above.

Published November 19, 2019 — 09:36 UTC