The British police have disclosed that a case of encryption fraud committed as a police officer was closed in London. Three men lured eight victims into handing over encrypted assets for approximately Pound4 million by falsifying police identities and websites. According to the police, some of the assets have been recovered, but tracing continues.
Counterfeiting identity induced transfers
The suspect first called the victim, claiming to be a member of the police, claiming that his encrypted assets were at risk. Subsequently, they induced the other party to provide information on the account or to transfer the funds to so-called “safe accounts”. The police indicated that the website was also carefully simulated to enhance the credibility of the scheme.
The money is used for luxury consumption.
The South Walker Criminal Court in London sentenced Anthony Ikenwe and Kevin Nwamma to six years ' imprisonment each. Hamza Bashir was sentenced to three years and nine months. According to the police, the stolen money was used to purchase luxury cars, Rolexes and luxury travel, as well as into Dubai for cash deposits, prepaid cards and various bank accounts.
Police are still tracking assets.
According to the London Police Office, approximately Pound1 million of related assets have been recovered and encrypted money, luxury goods and 40 mobile phones have been seized. The police, in cooperation with British and international partners, continue to track the movement of other persons and funds involved.