RATE Group | Police seize almost $8m in cryptocurrency, cash in Waikato
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Police seize almost $8m in cryptocurrency, cash in Waikato

02 Dec Police seize almost $8m in cryptocurrency, cash in Waikato

Posted at 02:58h in Cryptocurrency News by

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The police have seized nearly $8 million in cryptocurrency and other funds following an investigation by their Waikato/Bay of Plenty Asset Recovery Unit.

They say the US Inland Revenue Service alerted them in 2016 to a website operated by a man based in New Zealand.

It was allegedly distributing a large number of copyrighted films and laundering the proceeds.

The man allegedly involved, Jaron David McIvor, and his associates were reportedly using online money transfer services to send remittances between the US, Canada, New Zealand and Vietnam.

Police say their investigation resulted in the restraint this year of $6.2m in cryptocurrency and $800,000 in banked funds from Mr McIvor, but have not arrested him or charged him with anything.

This month a further $472,000 in cryptocurrency and $377,000 in banked funds were seized from an associate.

Mr McIvor’s lawyer, Truc Tran, said he denies all the allegations.

Assistant Commissioner Investigations, Serious and Organised Crime…

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