Self-Proclaimed Satoshi Arrested Over Bitcoin Fraud

[Leviathan.007]

A man who identified himself as Satoshi Nakamoto has been arrested for bitcoin fraud.
According to Bild, Jorg Molt, a German entrepreneur who claimed to have invented bitcoin and started the Satoshi school, was arrested.
The 48-year-old man was stopped and arrested by the Bavarian police in Frankfurt minutes before boarding a plane flying to South America.
Following his arrest, his apartment in Karlsruhe was searched and evidence was found.
Police have also launched an investigation into a 54-year-old woman who was with him.
Molt is said to have defrauded 50 people of the "Bitcoin Retirement" project worth € 1.8 million ($ 2.14 million).
The German entrepreneur, who also happens to be a DJ, tried to deceive investors using his relatively extensive social network.
In summary, the plan was to use 60% of the total investment to purchase fixed-rate bitcoin mining hardware at a location in Sweden, and to keep the remaining 40% of the funds in a secure account. Molt claimed that it was possible to withdraw money from the account at any time.
The "Bitcoin Retirement" project was halted in 2020 after many members began to express concern about its fraud.
During the investigation, it was revealed that Molt had never intended to invest the bitcoins received from the extraction.


Source: https://u.today/self-proclaimed-satoshi-arrested-over-bitcoin-fraud

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[mindrust]

A man who identified himself as Satoshi Nakamoto has been arrested for bitcoin fraud.
According to Bild, Jorg Molt, a German entrepreneur who claimed to have invented bitcoin and started the Satoshi school, was arrested.
The 48-year-old man was stopped and arrested by the Bavarian police in Frankfurt minutes before boarding a plane flying to South America.
Following his arrest, his apartment in Karlsruhe was searched and evidence was found.
Police have also launched an investigation into a 54-year-old woman who was with him.
Molt is said to have defrauded 50 people of the "Bitcoin Retirement" project worth € 1.8 million ($ 2.14 million).
The German entrepreneur, who also happens to be a DJ, tried to deceive investors using his relatively extensive social network.
In summary, the plan was to use 60% of the total investment to purchase fixed-rate bitcoin mining hardware at a location in Sweden, and to keep the remaining 40% of the funds in a secure account. Molt claimed that it was possible to withdraw money from the account at any time.
The "Bitcoin Retirement" project was halted in 2020 after many members began to express concern about its fraud.
During the investigation, it was revealed that Molt had never intended to invest the bitcoins received from the extraction.


Source: https://u.today/self-proclaimed-satoshi-arrested-over-bitcoin-fraud

For a second I thought they caught Craig, lol. I wonder if it is worth going jail over 2 million bucks. He is already 48 y.o. and I can't see him getting out before 60, or maybe even more. The chances are he is going to die in prison.

I guess you just can't run out of dumb people.

[Lucius]

I wonder if it is worth going jail over 2 million bucks. He is already 48 y.o. and I can't see him getting out before 60, or maybe even more. The chances are he is going to die in prison.

According to what I found in German law, the maximum penalty is 10 years, but somehow I don't believe that he will get more than 5, and maybe even less if he manages to settle and return most of the money. Some countries may have harsher penalties, but it seems to me that the penalties for such acts are simply too lenient, and $2 million is not a small amount of money, whether it is the US or the EU, many would risk a few years in prison for that amount.

(1) Whosoever with the intent of obtaining for himself or a third person an unlawful material benefit damages the property of another by causing or maintaining an error by pretending false facts or by distorting or suppressing true facts shall be liable to imprisonment not exceeding five years or a fine. In especially serious cases the penalty shall be imprisonment from six months to ten years.

[Fundamentals Of]

For a second I thought they caught Craig, lol.

It was also Craig Wright who came to my mind first when I saw the title of this thread. But it wasn't, and it was a smaller faketoshi who was arrested. Why can't the wealthy faketoshi, CSW, be brought to justice and get arrested over his own worse version of fraud? The man is wreaking havoc within the crypto community and yet when he goes to court over something clearly foolish and baseless, he's given undue respect.

[dkbit98]

I am not surprised at all about this news of arresting this Faketoshi Jorg Molt, and I hope that other scammers like Craig Wright will have the same destiny.
This is just one more proof that people are not using their head at all when they can believe clowns like this and their Bitcoin Pension funds.
Imagine claiming you are Satoshi and you didn't even own a computer when Bitcoin was invented 

[primaris]

For a second I thought they caught Craig, lol.

I’m new here. First comment.


It was also Craig Wright who came to my mind first when I saw the title of this thread. But it wasn't, and it was a smaller faketoshi who was arrested. Why can't the wealthy faketoshi, CSW, be brought to justice and get arrested over his own worse version of fraud? The man is wreaking havoc within the crypto community and yet when he goes to court over something clearly foolish and baseless, he's given undue respect.

Yes, he came to mind for me as well. To answer your question, though it was not directed at me, I think that wealthy faketoshi hasn’t been arrested precisely because he is causing chaos - I believe that the system wants (in so far as it wants things) to destroy crypto generally. Wealthy faketoshi is a boon to the system; a wealthy fraud who is sufficiently arrogant and unscrupulous to use litigation/the judicial system (the system’s enforcement arm) to try to perpetrate his fraud upon the community and destabilize the fabric of crypto.

Lucky for us, the system is run by morons (when it comes to tech) and it’s dictates are enforced by jackbooted morons who are so dedicated to the fallacy of sunk costs that they’ll defend the system at all costs. Crypto is the new revolution. It’s the internet but much bigger and much more alien to the system. They don’t understand it, and they’re right to fear it.

As for faketoshis everywhere, nobody should take them seriously. They’re the fame-wh*res of the crypto sphere. They’ll come and go just like the losers who the system parades before us all day and night on the news. Fake, substance-less, and ultimately irrelevant (only relevant to the sycophants of the system - the drones to the sunk costs fallacy).

[Slow death]

A man who identified himself as Satoshi Nakamoto has been arrested for bitcoin fraud.

honestly why was he using the name satoshi nakamoto? he was so desperate for attention that he committed the folly of using the name satoshi nakamoto and to make matters worse the guy is 48 years old and thinks of committing a crime that would easily be discovered and arrested. Satoshi was smart, and he is far from Satoshi Nakamoto in terms of intelligence. I'm wondering how his family must be sad and disgusted, imagine if he has kids? how his children must be feeling when they see their father arrested at the age of 48. how his parents must be feeling when they see their 48-year-old son arrested. Is something very sad.;;

According to Bild, Jorg Molt, a German entrepreneur who claimed to have invented bitcoin and started the Satoshi school, was arrested.

the Satoshi school?

I thought I had seen everything in this crypto world. but from what I see there are still many surprises to see in this market.

[Leviathan.007]

the Satoshi school?

I thought I had seen everything in this crypto world. but from what I see there are still many surprises to see in this market.

lol yeah, 'Satoshi school'! 
Online education platform that focused on teaching about cryptocurrencies, said by themselves.

[Kakmakr]

I was so excited when I saw OP's clickbait heading, because I thought it might be Craig Wright.... but I was wrong.    Yea, guys claiming to be Satoshi will have to suffer the consequences ....because the label Satoshi Nakamoto come with a lot of negative attention from the authorities. 

One day Karma will catch up to Mr FakeToshi (Craig Wright) and he will be on the wrong side of the law. He is the biggest Con man out there and nobody is chasing this Snake oil Salesman. 

[jossiel]

This is why it's important to have at least the basic understanding about bitcoin and if somebody claims to be satoshi, he's not satoshi.

And just like anybody else, I thought that it was somebody else that happens to claim satoshi and becoming pushy most of the time as he's proclaiming that he owns everything satoshi has made.

[Tumanggor]

~

it's important to know exactly what you want to invest
scammers like this will keep appearing with their ability to convince newbies, I always recommend newbies to read the history of Bitcoin first because satoshis are anonymous

after they are deceived like this, there will certainly be many who don't like Bitcoin
Bitcoin is never wrong, they are the only ones who want to be deceived by fraudsters because they are lazy to find more details about the history of Bitcoin

[aoluain]

OMG I so thought this thread was about CSW, how dissapointing.


Ah good to know there is another con-man scammer stopped in his tracks.

Seems like he was a smooth-talking conman to be able relieve people of their finds
with an elaborate Bitcoin mining plan. So he proclaimed to be Satoshi, I assume to the
people he was scamming, people who may not know anything or very little about
Bitcoin. I can just imagine him spinning this elaborate story of being Satoshi, trying
to evade the authorities, keeping a low profile, allowing you to become part of his
wonderful future mining plan....

These people are everywhere looking to spot a potential victim.

[vv181]

~So he proclaimed to be Satoshi, I assume to the
people he was scamming, people who may not know anything or very little about
Bitcoin. I can just imagine him spinning this elaborate story of being Satoshi, trying
to evade the authorities, keeping a low profile, allowing you to become part of his
wonderful future mining plan...

Well yea, though in addition, he has an established social media followers, and also he uses his picture with Andreas Antonopoulos to lure his victim. Pretty sure the victim has also lacked of competency about the cryptocurrencies spaces, I mean like this space has an enormous scam spread around. So it would make the victim are easily get tricked into it.

[bluebit25]

I find it quite interesting because I don't think he will be able to criminalize these areas in the countries where he lives. Those are civilized countries with developed economies, but perhaps the cases of being taken advantage of are only a few. Anyway, everything was brought back when he was arrested, perhaps those who called themselves Satoshi were not a wise move.

[electronicash]

Does anybody think that governments are trying to confiscate their BTC just as how they tried to John Macafee? 
Or are they illuminating all Satoshis until the only that's left is Craig? 

All the guys who committed fraud through cryptocurrency may likely be arrested and probably commit suicide as well. I don't wanna make this thread like a conspiracy theory but I think the people who are scamming deserve to pay.

[Fundamentals Of]

~those who called themselves Satoshi were not a wise move.

Of course. Only a highly mentally-unstable person would like himself to get ridiculed for claiming to be the real Satoshi. Why would any person claim to be the real Satoshi when he knows for himself that he is not the real Satoshi? Faketoshis are crazy in their imaginations. They are fooling themselves more than others, Craig Wright most of all. He's spending a wealth for his fake claim.

We're all Satoshis but we're not claiming to be the Satoshi who built Bitcoin.

[franky1]

possible charges (just some but cant be bothered to list all)
263a - identity theft
          "the satoshi pretense" <5 years
264a - capital investment fruad
           "fake promises of returns" <3 years
267  - forgery of documents
          "fake spreadsheet accounting" <5 years
269  - forgery of data of probative value <5 years
         "fake financial statements"

he can be charged with multiple offenses that can be served consecutively . meaning 18 years
the 263 is about being satoshi, but not.. the 264 267 269 is about the ponzi itself

[hatshepsut93]

As soon as I saw the title, I knew it was this guy without even reading the article, simply because he is the second most notable Faketoshi, and the OG Faketoshi Craig Wright knows how to not go to prison, because he is a professional legal troll. IMO these Faketoshi scammers should all be prosecuted for identity theft and investor defraudment if they promote a coin or do any other business activity while pretending to be Satoshi.

[Obito]

Man, when will people learn that they have to do research before anything else. This one though is pretty hard one to spot but given how he is making the location of the mining in a different place, I am sure that should've raised some red flags. Also, fuck this guy, trying to use Satoshi's name to deceive people. It only makes things worse for bitcoin because more people won't trust it completely.

[franky1]

This one though is pretty hard one to spot but given how he is making the location of the mining in a different place,

spoiler: he had no asics.. it was straight ponzi