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Fraud

International Cryptocurrency Fraudster Ordered to Pay Back £140,000

Strategic Insights

— 1 min read

A 44-year-old man from Wiltshire, James Heppel, has been ordered to pay back £140,000 after committing international cryptocurrency fraud. Heppel was convicted of three counts of conspiracy to commit fraud alongside Jake Lee, from Bath, who was handed a four-year sentence and a confiscation order for nearly £1million. The pair carried out the fraud by spoofing the domain of online cryptocurrency exchange Blockchain.com, stealing funds and login details from 55 victims in 26 countries, resulting in total losses of £5.7 million worth of cryptocurrency.

Key Takeaways:

  • James Heppel, a 44-year-old man from Wiltshire, was ordered to pay back £140,000 after committing international cryptocurrency fraud.
  • Heppel was convicted of three counts of conspiracy to commit fraud alongside Jake Lee, from Bath, who received a four-year sentence and a confiscation order for nearly £1million.
  • The pair spoofed the domain of online cryptocurrency exchange Blockchain.com to steal funds and login details from 55 victims in 26 countries, resulting in total losses of £5.7 million worth of cryptocurrency.
  • The investigation started in 2018 after Avaon and Somerset Police arrested Lee on suspicion of money laundering.
  • The Crown Prosecution Service (CPS) worked closely with financial investigators in SWROCU to identify Heppel's available assets and secure the £140,000 Confiscation Order.
  • The CPS will use the powers available to ensure crime does not pay, depriving criminals of their ill-gotten gains and ensuring monies are repaid to victims.

Statistics:

  • £140,000: the amount Heppel was ordered to pay back.
  • £5.7 million: the total losses in cryptocurrency worth due to the fraud.
  • £24,000: the amount of cash seized from Lee during the arrest.
  • £835,000: the total cash and assets restrained from Lee, including a Banksy print worth £60,000 and three vehicles.
  • 55 victims in 26 countries: the number of victims identified by the investigation.
  • 11 victims in the UK: the number of victims identified in the UK.
  • 2018: the year the investigation started.
  • May 2024: the month the two men were jailed.

Sources:

  • Crown Prosecution Service (CPS): identified Heppel's available assets and secured the £140,000 Confiscation Order.
  • South West Regional Organised Crime Unit (SWROCU): conducted the investigation into the international cryptocurrency fraud.
  • Avon and Somerset Police: arrested Lee on suspicion of money laundering and seized digital devices and Bitcoin wallet recovery seeds.

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