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Australian Police Track Down Luxury Items Linked to Bitcoin Millionaire’s Girlfriend

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An Australian businessman accused of money laundering is about to lose pretty much everything. Apparently, his girlfriends will be on the hook for his crimes as well.

According to the Brisbane Courier Mail, police officers are in the process of seizing luxury cars belonging to two models following their links to Benjamin Thomas Nelson, a businessman convicted of financial crimes.

Cars, Houses, and Bank Accounts 

Citing Sharon Raabe, the director of the proceeds of crime division at the Crime and Corruption Commission (CCC), the report explained that Nelson had showered two of his girlfriends with lavish gifts, most of which he bankrolled using proceeds he got from his crimes. 

The report cites a pink Lamborghini Huracan that the businessman-turned-criminal got for his girlfriend – Kaori Celine Nakase, a 24-year-old former barmaid.

The Lamborghini is estimated to have cost Nelson $490,292 ($AUD 637,800).

Police are also going after a four-bedroom house in the Gold Coast Region, an exclusive beach resort in Queensland. British tabloid The Daily Mail reported that the house was worth $745,000, and the couple had paid for it outright using a “deliberately complex series of transactions to avoid detection.”

Nelson also had romantic ties with Tori Maddison Preiss, a 25-year-old Instagram model, whom he gifted an Audi A5 Cabriolet – worth about $77,000.

Along with the vehicle, police authorities have seized four bank accounts in Preiss’s name. One of the accounts had a $100,000 deposit, while the other had $220,000 transferred from a Bitcoin account.

Nelson had reportedly been jailed for bitcoin money laundering and drug trafficking crimes. While operating, he amassed a fortune worth about $10 million. Beyond his desire for generosity – and whatever he could have been benefiting from his relationships – he was also reportedly scared of showing up on the police’s radar. So, he registered his prized possessions—like his cars, in his girlfriends’ names. 

Justice Doesn’t Sleep

Criminal prosecutions are already picking up steam in 2021, with authorities staying ever vigilant against bad actors. Last week, the Justice Department sentenced Rossen Iossifov, the owner of the RG Coins crypto exchange, to a decade in prison on money laundering crimes.

Last year, Iossifoiv and several other principal officers at his company were found to have partaken in a conspiracy to commit money laundering and racketeering. 

The Justice Department’s announcement claimed that they had conspired to defraud at least 900 Americans to the tune of about $7 million.

As part of the scam, the co-conspirators would advertise nonexistent luxury items on retail sites like eBay and Craigslist. Most of the funds they got were routed via the exchange and sent to criminal organizations.

Iossifov himself also laundered money for the AOAF, a known Eastern European cybercrime syndicate.

He reportedly allowed $5 million in dirty money pass through his exchange, while failing to mandate  Know-Your-Customer (KYC) compliance measures on the platform. The convicted Bulgarian also reportedly earned $184,000 from the proceeds of these money laundering transactions.

Of the 20 principal actors of the RG Coins money laundering scheme, 17 have so far been convicted. Iossifov’s prison term is the longest of the seven people sentenced thus far. Authorities are still on the hunt for the three fugitives at large.

As a federal prisoner in the U.S., Iossifov will have to serve at least 85% of his 121-month prison sentence.

Source: https://insidebitcoins.com/news/australian-police-track-down-luxury-items-linked-to-bitcoin-millionaires-girlfriend

Blockchain

Large, Luxury Penthouse in Miami Sells for $22 Million in Crypto

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One of America’s most luxurious penthouses just sold for more than $22 million – and the deal was completely finalized through cryptocurrency. The home consists of four bedrooms and is located within a condo building known as Arte by Antonio Citterio, which is situated in Miami Beach, Florida and designed by real estate developers Alex Sapir and Giovanni Fasciano.

Miami Real Estate and Crypto… A Perfect Match?

While crypto-real estate deals have been occurring over the past seven years, they are not common in any way, shape, or form. Typically, in America, all deals close through USD, but both Sapir and Fasciano expressed their excitement over the event and said in a recent interview that they always felt real estate and crypto went hand in hand… It was just a matter of time before people realized that, and as a result, they have consistently been open to homebuyers looking to pay their way with digital currency.

Sapir explains that there were several offers made on the residence, many of which would have also been done with crypto. He explained:

There is a strong, pent-up demand for cryptocurrency transactions that are seamless and secure for both parties, and the deal at Arte is a prime example of that. We were overwhelmed by the amount of calls we received from qualified buyers just after announcing our ability to facilitate cryptocurrency transactions. Real-world crypto transactions have not made their way fully into the mainstream yet, so it is quite clear top holders around the world pay attention when new opportunities to transact open up.

Fasciano says that with this sale, he has no doubt Miami could become a leader in crypto-based real estate sales, and he is hopeful that this will attract more digital investors to the housing mix. He says:

We are making Miami real estate history with this sale, as we were the first new development to facilitate this kind of cryptocurrency transaction, and to do so successfully so quickly after announcing. Cryptocurrency is the future of wealth, and we believe this is only the beginning. Arte has set the precedent for what these sales can look like and how fast they can take place. We are proud to have laid the groundwork for this new, burgeoning world.

Why Crypto Works Well

Sapir further stated what it was that inspired them both to accept crypto in the first place:

When we first set out to develop a boutique, resort-style oceanfront condominium for only 16 owners, no one had ever heard of anything so luxe and at such a small scale in Miami. It did not deter us, and we wanted to get ahead of a future world where half the world’s billionaires could have easily made their wealth from cryptocurrency. The quick sale of the Lower Penthouse at $22.5 million proves the success of the concept.

Tags: cryptocurrency, Miami, Sapir Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.livebitcoinnews.com/large-luxury-penthouse-in-miami-sells-for-22-million-in-crypto/

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Ripple execs file new motion – What does it mean for their XRP sales contention?

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The ongoing lawsuit filed by the SEC against Ripple Labs and its execs is showing no signs of slowing down or ending anytime soon. Ripple’s latest defense now challenges the SEC’s jurisdictional authority over the exchanges that Brad Garlinghouse and Chris Larsen sold XRP to. As a matter of fact, the SEC, in its amended complaint, sought disgorgement for the two billion units of XRP sold by the execs on digital asset trading platforms located outside the U.S.

The individual defendants in the case have filed a motion seeking the court’s approval to request documents from over a dozen digital currency exchanges located “all over the world.” By doing so, the defendants want to establish that the XRP sales they made were beyond the jurisdiction of the regulatory agency. The individual defendants also argued in their motion that Section 5 of the Securities Act only applies to “domestic” sales and offers of securities.

Justifying the ultimate reason behind their international discovery request, their motion noted,

“The evidence to be obtained from the digital asset trading platforms is probative of the issue whether “irrevocable liability” was incurred outside the US with respect to these transactions.”

The third parties in question here include prominent exchange platforms like Upbit, Korbit, Huobi, Coinone, and Bitstamp. Additionally, the defendants’ letter stated,

“We understand that the Plaintiff, the Securities and Exchange Commission, does not object to this motion.”

With this motion, the defendants have requested the court to issue the attached letters of request for international judicial assistance and compel the aforementioned entities to produce documents. Here, it should be noted that the Court has the authority to request any competent authority of another state to obtain evidence. This motion is quite important for the defendants because it has the potential to provide them with concrete evidence before the close of fact discovery.

The Letters of Request to the entities seeks the assistance of the Central Authorities of Singapore, South Korea, Hong Kong, the U.K, Cayman Islands, the British Virgin Islands, Seychelles, Malta, and Northern Ireland to obtain documents relevant to the case that are otherwise unobtainable through other means from the entities. 

“The Individual Defendants seek foreign discovery on the basis of their good faith belief that the listed entities possess unique documents and information concerning this case.”

According to the aforementioned motion, the entities could potentially produce evidence that specifically dealt with the transactions of XRP on their respective foreign digital trading platforms. 

“There is good cause for the Court to issue the Letters of Request. The information sought in the document requests is narrowly tailored to obtain relevant information related to the case.”


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Source: https://ambcrypto.com/ripple-execs-file-new-motion-what-does-it-mean-for-their-xrp-sales-contention

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Blockchain

Analyzing ideal buy-entries for Ethereum, Cardano, Dogecoin for the next 24 hours

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The cryptocurrency market might potentially be amidst another weekend correction. In a previous article, we analyzed whether there is an actual correlation between market dumps and the weekends.  Multiple assets are shaky on the charts at the moment, and that includes the likes of Ethereum, Cardano, Dogecoin, among others. Keeping the notion of recovery in mind, we tried to identify a potential buy-range for these altcoins in order to maximize profits out of the dire situation at hand.

(Note: The analysis has been solely done from an analytical and fundamental point of view. It does not accommodate the possibility of any flash crashes)

Ethereum – Re-visiting the $2100s?

Source: ETH/USDT on TradingView

Ethereum, at the time of writing, was at a price range last seen towards the end of May 30th. The valuation was near the $2300 range, something that opens up the possibility for a couple of situations,
i) A bounceback from the support range of $2310-$2180
ii) Ideal re-test of Demand Zone at $2100-$1750

One of the reasons why the aforementioned support range could get invalidated is the fact that it has been tested before on 8th June. Now, while the Demand Zone has a wide range, it would be better for the asset to not close under $1880, which is a critical level and weekly support.

Hence, setting up buy entries between $2100-$1900 remains ideal, while cutting losses under $1880 if the market goes further south.

Source: Sanbase

ETH’s trading volume ($27.6 billion) was also a clear indication that the market is adequate for recovery, but its social volumes have significantly dropped. And yet, historically, this level has acted as a point of reversal.

Dogecoin – Another free fall?

Source: DOGE/USDT on Trading View

Dogecoin lacked a definite support range based on past price action. Coincidentally, its present price range has only been its bounceback level in the past. Now, presenting DOGE’s demand zone is more chaotic than other assets because its charts paint more of a flash-crash situation.

And yet, the ideal demand zone or buy range for the meme coin remains between $0.218-$0.184. A collapse below $0.184 should be directly met with sell-orders to cut losses, as the price could potentially meet its weekly support at $0.087.

Source: Sanbase

One thing that makes it worrisome for Dogecoin to touch its demand zone is the lack of volumes. There might be no pullback considering the strength of trading activity was falling to its minimal range for the year 2021.

Source: Sanbase

However, from a development point of view, its ecosystem has had more activity than ever before, which is a huge positive from a fundamental and long-term point of view. Overall, it is more ideal to set up entries after it bounces back from the Demand Zone than now while it is consolidating in it.

Cardano – Better not touch $1?

Source: ADA/USDT on Trading View

For Cardano, there remains a definite Support Range and Demand Zone. Just like Ether, it re-tested the support range of $1.40-$1.33. Unlike ETH, ADA’s support zone is stronger. Yet, strong corrections should mean meeting the demand zone between $1.17 and $1.05. Unlike other assets, it is imperative ADA remains above the Critical Level of $1 because it has maintained a position above this range since the beginning of February.

Source: Sanbase

While Cardano had low trading volumes, it didn’t seem to be beyond salvation. Market momentum may switch up activity levels very quickly. However, it is essential to keep note of its low social dominance as only 2.36% of the ecosystem is talking about Cardano at the moment. Fundamentals are still strong for ADA, however. Ergo, buying within the demand zone should be fruitful.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/analyzing-ideal-buy-entries-for-ethereum-cardano-dogecoin-for-the-next-24-hours

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