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A Trader At Chicago Firm Sentenced 20 Years Of Imprisonment For A Theft Of BTC

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A recent report from a firm from Chicago claims that a theft of BTC occurred in the company. The person who was responsible for the theft is sentenced to an imprisonment of 20 years. The guilty person himself told the company about the entire theft through an email.

Joseph Kim, an assistant trader in a Chicago based trading firm ‘Consolidated’ wrote in an email ‘I was continuously trying to fix the things that I already had done once until the end. I still don’t believe that I was unable to stop myself from doing such an offence. I have made money out of your company and I will live with that throughout my life. The only thing I can do for now is, I apologise for betraying you all like this.’

Kim tried to confess his crime to Consolidated through the medium of the email. John R. Lausch, US Attorney for Northern Districts along with FBI proclaimed that Kim was an assistant trader in a Chicago trading firm. The company recently had formed a cryptocurrency group to capture the cryptocurrency trading. In last two months, Kim unknowingly and inappropriately condemned a theft of around $2 Millions. The entire crime was conducted through the means of bitcoin and litecoin cryptocurrency which was done for his own personal benefit. In respect to the same, he made various false statements and proclaimed some false representations as well to the company’s management.

The recent reports reveal about Kim that he had a previous experience in cryptocurrency. He had worked in South Korea in the same field for a period of time after completing his graduation. In the summer of 2016, he joined Consolidated as an assistant bond trader. Few employees used to describe him as ‘degen’ which means ‘degenerative gambler’. An imprisonment of 20 years has been announced for Joseph Kim for doing such a huge theft. It is the very first time that Chicago’s federal criminal prosecution has announced such a charge against a theft.

 

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