Monday, June 24, 2024

US DOJ costs former CTO of blockchain firm for fraud scheme

by Jeremy

The US Division of Justice mentioned it has arrested Rikesh Thapa, the previous chief know-how officer of a blockchain firm, for allegedly defrauding his firm of over $1 million.

The DOJ didn’t title the corporate in its Dec. 7 information launch.

Thapa’s LinkedIn reveals that he co-founded the blockchain firm Blockparty in 2017 and served as its CTO up till 2019.

In keeping with the DOJ’s submitting on Dec. 7, Thapa allegedly defrauded his firm of money and crypto property value over $1 million.

Again in 2018, the unnamed blockchain firm had a banking problem that prompted it to ship about $1 million to Thapa’s private account for safekeeping. Sadly, the Founder and CTO mismanaged the funds on private and splendid bills.

To hide his crime, Thapa cast his financial institution assertion to assert that held about $21 million. After a lot ado, he allegedly refused to return the $1 million to the corporate.

In one other occasion, Thapa conspired to promote about 174,285 of the blockchain firm’s utility tokens for an undisclosed quantity. He didn’t remit the funds to the corporate, claiming that the money he acquired from the buyers had been counterfeit.

Thapa was arrested on Oct. 7, 2022, by the DOJ. Talking on the arrest, U.S. Lawyer Damian Williams mentioned:

“Rikesh Thapa allegedly betrayed his firm’s belief, as he was answerable for the safeguarding of considerable quantities of cash. Thapa ent to nice lengths to cowl up his frauds.”

Following his arrest, Thapa will face costs of wire fraud and danger imprisonment of as much as 20 years in jail if confirmed responsible.

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