Bitcoin and cannabis confiscated in one go

In 2014 a house in the Netherlands was raided by the police as the energy company suspected the tenant to use a lot of energy illegally. The police not only confiscated cannabis plants and lamps but - and that was new - also a mining device for bitcoins. The tenant lost 712 bitcoins (worth 191 K EUR based on price per bitcoin of 268 EUR ) which were confiscated as they were mined with illegal energy (not paid for).

Poor Miner!

Now four years later the court of appeal ("het Hof") first decided that mining without paying the energy bill indeed is equal to theft and the bitcoins are confiscated correctly if this fact can be proven.

The Court of Appeal also decided that it could not be proven that all coins were mined illegally and 585 bitcoin must be given back to the tenant now worth 4 million EURO. But the Court said that the tenant does not get the 4 million but the countervalue of 585 bitcoin with the price at the moment they were confiscated so only 157 K EUR.

How did the guy without a job finance the computers and what kind where they?

The man of Chinese origin received 100000 EUR from a Chinese banker to pay his mortgage (he said) but it was more likely that the computers were bought from this money (via ABNAMRO bank). Large repayments (same bank account) were transferred to China each time EUR 4000 to avoid laundering controls. The Court decided this was proven.

I am not a tech guy but the verdict speaks a bout a mining set up which was recently increased from 130.5 GH/s to 1230,5 GH/s.

And for cannabis production ?

For the cannabis (151 plants) no jail was sentenced just doing social work for 100 hours ( a task we call that).

Criminals have a good life here! And so do I by the way.

Steem miners ?

And by the way all our steem mining witnesses do pay their energy bill…… I hope.

Goldrooster

source in Dutch only