Police detain suspect over illegal crypto trading and theft of charity funds
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Police detain suspect over illegal crypto trading and theft of charity funds
A suspect has been detained in Fergana on suspicion of illegally trading large volumes of cryptocurrency and misappropriating donations collected for seriously ill people, the Interior Ministry's Department for Combating Cybercrime said.
The suspect, 19, repeatedly breached Uzbekistan's rules on crypto-asset trading, the department said. The cryptocurrency traded illegally was valued at more than $408,000, or about 4.89 billion soums.
As the investigation continued, it was also found that the suspect had been deceiving people through a scheme he had devised, taking the money for personal gain. The scheme targeted donations from people who had turned to social media for help because of serious health problems.
The suspect said the money was spent directly on online betting and lost.
A criminal case has been opened against the suspect under Article 168 of the Criminal Code (Fraud), Part 3, clauses "b" and "c," and Article 278-8 (Violation of regulations on crypto-asset circulation), Part 3, clause "a."