The U.S. looks to extradite alleged Swedish crypto scammer

20 Jun, 2019
by Colin Hawkins
News
The U.S. looks to extradite alleged Swedish crypto scammer

According to a press release on June 19, the United States Department of Justice has a fraud complaint against Roger Nils-Jonas Karlsson of Sweden, and his associated firm, Eastern Metal Securities.

According to the press release Karlsson and EMS, have an array of charges against them, ranging from securities fraud, money laundering, and wire fraud. In demonstration, Karlsson allegedly told his investors to pay for his products using crypto.

The Eastern Metal Securities firm website, is reportedly registered to a person that does not exist, and they offered shares of “Pre Funded Reversed Pension Plan,” where investors could purchase shares at $98. The payout per share was allegedly 1.15kg in gold, and this was something that Karlsson promised, though investors never received.

The IRS Criminal Investigation unit revealed that Karlsson never had the capital to back up the payouts he was promising to his investors at any point. The money that investors gave him reportedly was re-invested into real estate in Thailand. EMS was not the only scam that Karlsson was reportedly running. He was also running the site, HC125, offering investment deals with no payouts.

Karlsson has been operating the scam sites since 2006, and it is estimated that he has obtained over $11 million from over 3,500 investors, via the scams he was running.

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Read more about: Scam Sweden

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