The FBI has returned $190 million in Bitcoin to the estate of a woman accused of embezzling funds from Sony Life. The case is one of many that have put the spotlight on how people are using cryptocurrency for illicit purposes, which has forced law enforcement agencies to address these challenges head-on.
The “bitcoin price” is a topic that has been trending recently. The FBI is looking to return $190 million in Bitcoin seized from an alleged Sony Life embezzler.
The FBI has initiated the initial legal move to restore 3,879 Bitcoin (approximately $190 million) to insurance business Sony Life, a subsidiary of Tokyo-based Sony Group Corporation, which it recently confiscated from an accused embezzler.
Rei Ishii, a Sony Life employee, reportedly “diverted $154 million when the firm sought to move assets between its bank accounts” back in May, according to the agency’s forfeiture lawsuit filed with the U.S. District Court of Carolina on December 20.
To do this, Ishii reportedly altered some transaction instructions, causing the funds to be moved to his La Jolla, California bank account. According to the lawsuit, Ishii used the money to acquire 3,879 BTC on cryptocurrency exchange Coinbase and then moved the coins to a cold hardware wallet.
Ishii also sent ransom emails to his boss (whose personal info he used to set up the Coinbase account) and several other Sony Life officials in May, according to the FBI, but it’s unclear why he did so.
In one of the emails, Ishii reportedly said, “If you accept the settlement, we will refund the monies.” He further stated that “if you press criminal charges, it would be hard to retrieve the monies” in another. But, as it turned out, the FBI was not completely out of the question.
“A seizure warrant was obtained in June 2021 based on evidence revealed during the FBI’s investigation,” the Southern District of Carolina Attorney’s Office stated in a news statement. “On December 1, 2021, police enforcement took those money.”
As a result, Ishii has been prosecuted criminally in Japan, while the Bitcoin “traceable to the theft” was moved to an FBI-controlled wallet in San Diego.
“It is our intention to restore the stolen funds to the victim of this heinous crime, and today’s action assists us in doing so,” said acting US Attorney Randy Grossman. “This case is an example of incredible collaboration between FBI agents and Japanese law enforcement to trace down this virtual currency.”
“Criminals should take note: you cannot depend on cryptocurrencies to conceal your ill-gotten profits from law enforcement,” he said in response to the inquiry.
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The FBI is looking to return the $190 million in Bitcoin that was seized from an alleged Sony Life embezzler. The FBI will determine how much of the money should be returned based on a court order. Reference: who owns the most bitcoin.
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