The post Former CEO Of The Defunct Digital Mine Faces Bitcoin Fraud Charges To The Tune Of $1.5M appeared first on Coinpedia Fintech News
Former Australian exchange Mine Digital CEO, Grant Colthup has been accused of fraud by the Australian Securities Investment Commission ASIC. Colthup was accused of scheming to embezzle $1.47 million meant to buy Bitcoin for a customer. According to the news, the funds were not used for the transaction but instead to pay off debts or even purchase cryptocurrencies for other people. Related to the Mine Digital platform, which ceased operations in 2022, creditors are attempting to recover almost $15 million. Colthup had his trial for a charge that attracts up to 20-year imprisonment has been moved to December 16.