RATE Group | Singaporean charged in US with ‘sophisticated fraud scheme’, United States News & Top St…
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Singaporean charged in US with ‘sophisticated fraud scheme’, United States News & Top St…

11 Oct Singaporean charged in US with ‘sophisticated fraud scheme’, United States News & Top St…

Posted at 03:31h in Cryptocurrency News by

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A Singaporean man has been charged in the United States with federal crimes related to alleged mining of cryptocurrency using computing power and services obtained with identity and credit card data stolen from California and Texas residents.

The US Department of Justice (DOJ) said that Ho Jun Jia, or Matthew Ho, was taken into custody by Singapore police on Sept 26 and is being investigated for various alleged offences committed under Singapore law.

The DOJ stated that following the surge in the value and popularity of cryptocurrencies between October 2017 and February last year, Ho, 29, “ran a large-scale cryptocurrency mining operation, propelled predominantly, if not exclusively, through fraud and identity theft”.

The indictment lodged in Seattle, Washington, describes Ho’s activity as a “sophisticated fraud scheme”.

“The essence of the scheme… was to use stolen personal and financial information to open accounts in the names of others… in order to obtain things of…

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