Chicago trader is accused of stealing $ 2 million in crypto-currencies

The Chicago trader faces up to 20 years in prison for stealing more than $ 2 million in BTC and LTC from his employer.

Joseph Kim, previously engaged in crypto-currency trading, joined the new division of Consolidated Trading LLC, which is focused on digital currencies, in September 2017. By this time, he owned personal crypto-currency accounts, which he told the employer. In the company he was asked to stop personal trading in order to avoid a conflict of interests.

However, Kim transferred 980 light coins (about $ 48,000) from the corporate account the first weekend after the start of work. When the employer found out about this, Kim said that he transferred the coins to a "personal digital wallet for security reasons" because of problems with the Hong Kong Stock Exchange Bitfinex. Then he lied that the coins were transferred to the purse of the company.

In November, the trader sent 55 bitcoins (worth $ 433,000) from the corporate wallet to an unknown account. When the company learned about this, Kim said that the transfer was blocked and that he was taking steps to unblock him. Later, he sent back 27 bitcoins to the corporate account, leaving 28 coins at his disposal.

In total, Kim transferred 284 bitcoins (for $ 2.8 million) from the company's account to his personal wallet. Later, he sent back 102 coins and transferred the remaining 182 coins to another account. Part of this amount Kim lost during personal transactions. Later he admitted that he invested in short positions of futures 55 BTC. Kim continued to steal the company to cover losses and personal investment. Part of the company's funds managed to return and the resulting losses for business amounted to $ 603,000.

In a letter to his boss, Kim admitted:

"I was not going to steal for myself. I strangely tried to correct what I had already done. I can not believe that I did not stop. "

The prosecutor's office accused Kim of Internet fraud for which he faces up to 20 years in prison.
source: https://bits.media/news/chikagskiy-treyder-obvinyaetsya-v-krazhe-2-millionov-dollarov-v-kriptovalyutakh/