A resident of Wellington, New Zealand’s capital, has been detained as part of an FBI-led inquiry into a worldwide cryptocurrency fraud scheme that reportedly embezzled $450 million New Zealand dollars (equivalent to $265 million).
As per the New Zealand Police, this individual is among 13 people facing charges following the execution of search warrants in Auckland, Wellington, and California over the last three days.
The accusations arise from claims that members of an organized crime group coerced seven victims into surrendering significant amounts of cryptocurrency, which was then laundered across various platforms from March to August 2024.
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