Swedish man extradited to the US on $11m crypto fraud charges

A Swedish man has been extradited to the United States from Thailand on charges of securities fraud and money laundering, according to the US Department of Justice.

Roger Nils-Jonas Karlsson was arrested in June following allegations that he defrauded thousands of victims of more than $11 million.

The 45-year-old allegedly set up a string of websites to make dishonest communications with potential investors. Victims would send Karlsson money to invest only to be told they couldn’t cash out as it would “cause a negative effect on the financial systems throughout the world”.

There are also allegations stating that Karlsson falsely claimed that his company Eastern Metal Securities (EMS) worked in unison with the Securities and Exchange Commission (SEC).

In a brazen attempt to launder the fraudulent funds, Karlsson has also been accused of siphoning victims’ funds through his personal bank accounts and into Thai real estate.

If found guilty of wire fraud, securities fraud, and money laundering, Karlsson could face a maximum fine of $750,000 and a maximum prison sentence of 40 years.

He made his first appearance in court on Monday, with Judge Sallie Kim detaining him until the next hearing on November 22.

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