High-Profile Businessman and Aussie Crypto Pioneer Gets Accused of Trafficking and Crime
The Australian cryptocurrency pioneer Sam Karagiozis has been arrested accused of trafficking 30 kilograms of drugs.
Mr. Karagiozis informed he lost around $3 million after the cryptocurrency market crash in 2018.
Karagiozis Arrested After Being Accused of Trafficking
According to a recent report released by News.com.au, an Australian Federal Police (AFP) spokeswoman explained that Karagiozis was arrested due to an investigation related to an organised crime syndicate.
The entrepreneur has been accused of importing, trafficking and possessing 30 kilograms of drugs. He possessed MDMA, cocaine, methamphetamine and also ketamine. He also had steroids, cash and also “other items related to cryptocurrency.”
Police believe that Sam Karagiozis played a very important role in directing the operations of the syndicate. Apparently, this syndicate used several darknet sites, Bitcoin wallets and also legitimate businesses for sourcing and distributing drugs.
The arrest was made due to to a joint AFP and Australian Transaction Reports and Analysis Centre (AUSTRAC) taskforce, which was able to raid a large number of properties in Victoria. The AUSTRAC has also suspended two crypto-related businesses that run as virtual currency exchange.
AUSTRAC national manager, regulatory operations, Dr Nathan Newman, commented about this situation in a recently released statement:
“AUSTRAC’s role is to deter and disrupt criminal exploitation of Australia’s financial system, and we take swift action where we there is a reasonable risk of compromise. Our decision to suspend the registration of the two businesses means they can no longer lawfully operate.”
AFP Detective Superintendent Paul Hopkins explained that when there is an individual that takes profit of a crime, it is possible to hit offenders where it hurts most.
Mr. Karagiozis will not start to live a very different life than what it had in the past. He calls himself a Bitcoin trader, property developer and also a restaurant owner. He has also rolled out the first Bitcoin ATM network in Australia with his company called Auscoin.
The number of crypto-related ATMs has expanded all over the world, including in Australia and many other countries.
About Bitcoin’s future, he mentioned that he believes that Bitcoin will surpass $20,000 in the future, even when this will not happen in a period of six months.
Karagiozis has even sold Bitcoin to the popular Australian tennis player Nick Kyrgios. Moreover, a few months ago, he has been accused of conducting an illegal business with its Auscoin company. Nevertheless, he has denied all the evidence provided.