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Police Arrest Japanese Man Who Bought Bitcoin With Stolen Funds
Tokyo police have arrested a man accused of buying bitcoin with stolen money.
A Japanese man has reportedly been arrested and charged with computer fraud after allegedly stealing thousands of dollars from a local woman and using the funds to buy bitcoin.
STORY CONTINUES BELOW
media reportshttp://www3.nhk.or.jp/news/html/20161103/k10010754661000.html that 33-year-old Ryota Fujii committed identity fraud by using the unnamed woman’s personal ID information to purchase ¥600,000 (roughly $6,000 at press time) worth of bitcoin by way of a fraudulently obtained credit card. Those sources say it’s the first case of its kind to take place in Japan.
The suspect is said to have claimed that he stole the funds in order to settle outstanding debts against him.
“I had debts to pay back,” Fujii reportedly said.
Fujii allegedly pretended to be a money lender, setting up a fictitious account through which to funnel the funds. He then used that money to purchase bitcoin, according to local sources. The incident allegedly took place in January, the Tokyo Metropolitan Police told reporters.
Image via Shutterstock
This piece has been updated for clarity.
Stan Higgins
A member of CoinDesk's full-time Editorial Staff since 2014, Stan has long been at the forefront of covering emerging developments in blockchain technology. Stan has previously contributed to financial websites, and is an avid reader of poetry.
Stan currently owns a small amount (<$500) worth of BTC, ENG and XTZ (See: Editorial Policy).
