Warning: Use of undefined constant ‘FS_METHOD’ - assumed '‘FS_METHOD’' (this will throw an Error in a future version of PHP) in /home/btcnewspaper/public_html/rayyesfinance.com/wp-config.php on line 83

Warning: Use of undefined constant ’direct’ - assumed '’direct’' (this will throw an Error in a future version of PHP) in /home/btcnewspaper/public_html/rayyesfinance.com/wp-config.php on line 83
A 33-year-old identity thief who bought a diamond-encrusted bitcoin pendant and - Rayyes Finance and Market News
Daily Banking News
$38.13
+0.4%
$151.70
+0.17%
$56.04
-0.2%
$27.71
-0.86%
$301.98
+0.5%
$374.23
-0.16%
$68.10
+0.18%
$101.04
+0.55%
$70.30
+0.75%
$2.58
+1.98%
$18.12
+0.17%
$66.44
+0.65%
$62.41
+0.92%

A 33-year-old identity thief who bought a diamond-encrusted bitcoin pendant and


Bitcoin Cryptocurrency logos seen displayed on an Android phone with an American flag in the background

A “prolific identity thief” who fraudulently used credit cards, pocketed $500,000, and bought bitcoin has been sentenced to three years in prison, the US District Court in Seattle announced on Friday.

Aaron Laws of Atlanta, Georgia, the 33-year-old suspect, employed a sophisticated scheme that involved recruiting accomplices, operating digital wallets and burner phones, and using bitcoin to avoid detection, Acting US Attorney Tessa Gorman said.

“Motivated by greed, this defendant attempted to use digital advances to hide his old-fashioned fraud,” Gorman said in a statement.

“At all phases – from accessing the dark web, to loading stolen data onto digital wallets, to acquiring prepaid anonymous phones, to adopting aliases, to laundering money through anonymous cryptocurrency accounts – his operation was sophisticated and difficult to detect. But ultimately law enforcement stopped him in his tracks.”

Laws acquired credit card information from “carding websites” on the dark web to carry out his scheme, the District Court said, citing case records. Such illegal websites are used to share stolen credit card data and for criminal activity.

He stored this information on digital wallets on prepaid phones, then immediately used it to make fraudulent purchases of luxury goods and items that could be sold for cash or bitcoin, the court said. He also bought a diamond-encrusted bitcoin pendant and a Rolex watch that cost more than $34,000.

Bitcoin diamond pendent

Laws spent about $166,000 on bitcoin between February and November 2017, buying 56% of that amount in just one day – on August 23, 2017. He was arrested in October of that year, having to serve time in jail on the weekends. But he continued to commit fraud across the country, the statement said.

He “had a very complicated criminal enterprise and nothing seemed to deter him,” US District Judge Robert Lasnik said at the sentence hearing.

Laws pleaded guilty to charges of conspiracy to commit bank fraud and aggravated identity theft on January 31, and was ordered to make a $623,554 restitution payment.

Representatives for Aaron Laws could not be reached for comment.

Read More: These 5 stocks are ripe for a short squeeze after surging in popularity this past month, according to Fintel. 2 even have the meme-friendly appeal of AMC and GameStop.



Read More: A 33-year-old identity thief who bought a diamond-encrusted bitcoin pendant and

Get real time updates directly on you device, subscribe now.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.