Japanese Police Arrest 12 Men For Allegedly Buying $1.7 Mln In Bitcoin With Fake Fiat

Tokyo associate degreed Hyogo police have in remission an additional 5 persons in reference to an alleged fraud case involving ¥190 mln ($1.7 mln) value of Bitcoin, conveyance the whole variety of in remission persons within the case to twelve, native news outlet TBS according April sixteen.

According to TBS, on July 25, 2017, in an exceedingly capital of Japan edifice, the suspects allegedly given a person, United Nations agency was acting as associate degree agent for a corporation govt in his 40s, with ¥200 mln (~$1.9 mln) in counterfeit money remittances.

Having been assured his agent had received the money, the person then transferred ~¥190 mln ($1.7 mln) equivalent in Bitcoin (BTC) to a chosen account managed by a cryptocurrency exchange in metropolis. The suspects area unit then same to own paid within the Bitcoin, earning over ¥170 mln once fees, TBS reports.

Kentaro Yagihashi, 32, is suspected of guiding the cluster, many of whom area unit according to be in their 20s, native outlet Sankei according. in step with Sankei, the primary seven men were in remission April ten. All twelve have denied charges.

Local news outlet capital of Japan newsman according that the victim told the police he accepted the deal so as to evade paying commission fees on a crypto exchange service.

Earlier this month, the japanese Metropolitan department of local government strengthened its crime enforcement unit, once statistics discharged by Japan’s National Police Agency (NPA) disclosed that over ¥662.4 mln ($6.2 mln) in cryptocurrency was defrauded or taken in Japan in a pair of017.