A Wellington man has been arrested in connection with an international cryptocurrency fraud scheme allegedly involving the theft of US$265 million (approximately NZ$450 million), as part of a wider investigation led by the United States Federal Bureau of Investigation (FBI).
According to police, the man is suspected of being part of an organized criminal group that used various cryptocurrency platforms to launder stolen digital assets. The funds were allegedly obtained by defrauding seven victims through manipulation, then used to purchase luxury items, including US$9 million worth of high-end vehicles, designer handbags, watches, clothing, nightclub services, private security, and rental properties in cities such as Los Angeles, Hampton, and Miami.
The alleged offences occurred between March and August 2024. Authorities say that search warrants were executed over the past three days across Auckland, Wellington, and California. A total of 13 individuals have been charged, including one person arrested in New Zealand.
The Wellington man was taken into custody this morning in Auckland by the Financial Crime Group and appeared in the Auckland District Court, where he was granted bail. He is scheduled to reappear on July 3. His name is currently suppressed.
He has been indicted by the United States Department of Justice on charges including racketeering (RICO), conspiracy to commit wire fraud, and conspiracy to commit money laundering under U.S. federal law.
New Zealand Police stated that they are working closely with U.S. law enforcement agencies to support the ongoing investigation.
“This operation highlights the importance of international cooperation when criminal activity spans borders,” a police spokesperson said.
The investigation remains active, and authorities declined to provide further details at this time.
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