Officer Under Investigation for Allegedly Pocketing 50 Confiscated Bitcoin in UK
A UK National Crime Agency officer, identified as Paul Choulse, is under suspicion for the alleged theft of 50 Bitcoins that were seized during a criminal investigation, as per the Crown Prosecution Service (CPS). The suspected theft occurred in 2017 during an organized crime investigation, with the stolen Bitcoins valued at approximately £60,000 (~$77,680) at the time.
Choulse is facing 15 charges, including 11 counts of concealing, disguising, and converting criminal funds, 3 counts of using or possessing illicit assets, and 1 charge of theft. He is scheduled to appear before the Liverpool court on April 25. The CPS has emphasized his right to a fair trial and has urged the public to abstain from comments or publications that could potentially influence the case.
In a separate incident, US resident Juan Carlos Reynoso was fined for concealing 119.65 Bitcoins. Until the BTC is transferred to a government wallet, he is required to pay $10,000 per day in penalties.
In January, a British crypto extortion gang was sentenced to a total of 76 years in prison. In a similar case, Melbourne federal officer William Whittle was accused of stealing 81.6 Bitcoins confiscated from a drug syndicate in February 2024.
While there is no definitive evidence of a pattern of cryptocurrency theft by law enforcement officers in 2017 and subsequent years, there have been numerous cases of cryptocurrency-related crimes, such as seizures by law enforcement and instances of individuals committing crimes involving digital assets. Recent examples include:
- The seizure of approximately $38 million in cryptocurrency by German police from eXch, a crypto exchange, amid allegations of money laundering.
- The US Department of Justice charging 12 individuals in a large-scale crypto fraud operation involving over $263 million in stolen digital assets.
- Cases of kidnappings and torture linked to cryptocurrency theft, such as the arrest of John Woeltz, known as the 'Crypto King of Kentucky,' for kidnapping and torturing a Bitcoin investor in New York.
These examples highlight the ongoing challenges in regulating the digital currency market and the need for continued vigilance by law enforcement agencies.
In the world of finance and general-news, it appears that cryptocurrency-related crimes, such as the alleged theft of 50 Bitcoins by a UK National Crime Agency officer, continue to plague the technology sector. Interestingly, US resident Juan Carlos Reynoso was fined for concealing Bitcoins, while in a different case, Melbourne federal officer William Whittle was accused of stealing Bitcoins confiscated from a drug syndicate. Such incidents, including the seizure of millions in cryptocurrency by German police and the US Department of Justice charging 12 individuals in a large-scale crypto fraud operation, underscore the ongoing challenges in regulating the digital currency market and the need for continued vigilance by law enforcement agencies in crime-and-justice.
