A Sydney-based solicitor has been charged over his alleged role in a cryptocurrency scam, which saw four people defrauded of more than $2.3 million.
In 2019, detectives from Sydney City Police Area Command commenced an investigation after receiving reports four people believed they had been defrauded by a suspected cybercurrency scam.
“Police were told the victims had responded to an online advertisement in relation to cryptocurrency trade and liaised with an unknown person to deposit money to trade in cybercurrencies,” NSW Police said in a statement today.
“Between December 2018 and March 2019, the four men – who were then aged between 69 and 95 – deposited a total of $2,311,000 into various Australian bank accounts.”
Police inquiries revealed the Australian accounts, which had subsequently been closed by the bank due to suspicious transactions, were linked to a Sydney-based solicitor.
“Following extensive investigations, Sydney City detectives arrested a 38-year-old man at Day Street Police Station just after 5pm yesterday,” Police said.
The Turramurra man was charged with four counts of recklessly deal with proceeds of crime.
Police will allege in court the man was a paid a total of $173,000 to facilitate the transfer of the victims’ money, which was deposited into his accounts, to an international syndicate believed to be operating out of Israel and Eastern Europe.
He has been refused bail to appear at Central Local Court today.
