Committing Fraud Through Matchmaking and Lottery Schemes, Bitcoin Trader Threatened with 40 Years in Prison

Bitcoin Fraud

KANALCOIN NEWS –  A bitcoin trader in the United States named Austin Nedved is reportedly facing 40 years in prison after committing fraud through matchmaking and lottery schemes. Nedved performed his actions on a number of victims along with his colleagues.

Austin Nedved himself is a trader who uses the and sites. Currently, Nedved has been arrested and is under the supervision of the United States Department of Justice (DoJ).

Last week, the DoJ announced that it had arrested a man from Boston who had pleaded guilty in federal court to suspected bitcoin fraud. The man is Nedved who commits bitcoin fraud.

According to a DoJ report via reported by, Nedved has admitted that he is part of a serial fraud syndicate and a money laundering conspiracy.

“Nedved admits that he runs a business where he buys and sells digital currencies, including bitcoins, for cash. Nedved advertises his services under the screen name ‘usmc1991’ via and,” the DoJ statement read.

Nedved took advantage of two schemes in his fraudulent activities, namely matchmaking and lottery. In an arranged marriage scheme, the victim would later be made to fall in love with Nedved’s partner who had disguised herself as a certain role.

The victim will be melted and willing to do what Nedved’s partner asks. One of them is being asked to buy bitcoins through a venture created by Nedved.

Meanwhile, in the lottery scheme, the victim will be convinced that he is winning a lottery that requires the victim to send bitcoins first. The Bitcoin will later go into the wallet of Nedved’s partner, which means it will still belong to Nedved.

The victim will be melted and willing to do what Nedved’s partner asks. One of them is being asked to buy bitcoins through a venture created by Nedved.

Because he was already very much in love with Nedved’s colleague, the two even made an agreement to get married, the victim was willing to help by sending bitcoins. The bitcoins that the victim bought came from Nedved’s business.

The bitcoins go into the wallets of Nedved’s colleagues and the 29-year-old man himself will receive cash from victims who have been duped by their fraudulent scheme. The fraud scheme lasted for a year from 2017 to 2018.

Because the money given to Nedved was $ 100 thousand. In fact, Nedved still asked the victim for another $ 40 thousand. So, the total money that Nedved and his colleagues got was $ 140 thousand.

To date, the money that has been collected from the fraudulent scheme carried out by Nedved and his colleagues is $630 thousand.

For his behavior, Nedved will be charged with two articles at once, namely the article for aiding and abetting serial fraud which carries a penalty of 20 years in prison and the article for money laundering carries a penalty of 20 years in prison.


Muhammad Zaki Fajrul Haq
Author: Muhammad Zaki Fajrul Haq

Follow me at @mzfajrulhaq (Instagram) or @ZakiFajrul (Twitter).

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