White-collar fraudster jailed in UK after converting $650K into crypto

[_act_]

I wanted to create this in scam accusation before but I think it can also be in gambling discussion. The purpose of this topic is this:

However, the transparent nature of blockchain tech may help firms quickly detect insider fraud, at least once they get a handle on crypto adoption.

Crypto is even helping investigation to be very easy if the source of the fraud is traced.

But the thing is that the person is a gambling addict.

39-year-old Jason Lowe, from Skipton in North Yorkshire, had worked for the same Lancashire-based firm since 2016, but between March 2023 and February 2024 siphoned off the funds in order to feed his gambling addiction.

That money is not his own but he used it to gamble. I think it will start from let me double the money and I will return the money stolen from the company back.

[Davidvictorson]

I always say it to my friends and I strongly believe it- crime doesn’t pay. You cannot outsmart the system. One may be successful in their first and second attempts but eventually they’ll get caught. And worse is that those who commit these things are addicts. Gambling addiction when not fixed is highly correlated to being involved in a criminal activity to satisfy the urge. There’s always help but one must first seek it out.

[Wiwo]

Bad move this os always the case with gamblers who are heavily addicted and can do anything to gamble,  at that stage, putting them in charge of money is a big risk.

He thought he was going to double the money then retuning the capital but now the casino has all the money and he is caught definitely will get a sentence.

Alot of cases of fraud and misappropriation of funds have been tracked and exposed via the help blockchain analysis and datas available on the network, incase cryptocurrency is used to siphon the money.

[Oshosondy]

He thought he was going to double the money then retuning the capital but now the casino has all the money and he is caught definitely will get a sentence.

I think this is what that happened. It will start from I will return the money when I win and he will start to lose. He will steal more money and continue to try to recover the losses just for him to get the money back but this is the best time to lose more money to gamble sites. We should be contented with what we have and have good reputation in the society. It is better than having wealth that will later taint our name.

[justinlamode]

The person involved in this case may be a gambling addict as alleged but this case is not related to gambling and it is even confusing knowing which board it fits in, maybe beginners and help or scam accusation would be better. I don't know how people think that they can become wealthy and successful through scam, something that have been proven time and again as not worth the stress that comes with it if caught. No everything about him have changed including his freedom, so what is the need?

[Agbamoni]

He thought he was going to double the money then retuning the capital but now the casino has all the money and he is caught definitely will get a sentence.

Eventually, people who think they can outsmart the system end up being caught and shown how dumb they are. What obnoxious reason is he going to tell the court now? I'm just thinking...lol.

If he had known, he would have split the money into small deposits instead of depositing all the money in the casino. He would not have been traced.

[Charles-Tim]

The person involved in this case may be a gambling addict as alleged but this case is not related to gambling and it is even confusing knowing which board it fits in, maybe beginners and help or scam accusation would be better.

Not may be the person is a gambling addict, he is a gambling addict.

Topics that can teach gamblers on this forum not to become addicted are welcomed on the gambling discussion board and this topic is an example of such topic. If it does not belong to this board, it would be moved by a moderator to the appropriate board but this thread can belong on the gambling discussion board as addiction threads are there and not moved.

I don't know how people think that they can become wealthy and successful through scam, something that have been proven time and again as not worth the stress that comes with it if caught. No everything about him have changed including his freedom, so what is the need?

He may not have intention to scam. Gambling addiction is not good. It is good to avoid it and make yourself a responsible gambler.

[Cryptomultiplier]

He thought he was going to double the money then retuning the capital but now the casino has all the money and he is caught definitely will get a sentence.

Eventually, people who think they can outsmart the system end up being caught and shown how dumb they are. What obnoxious reason is he going to tell the court now? I'm just thinking...lol.

If he had known, he would have split the money into small deposits instead of depositing all the money in the casino. He would not have been traced.

It's companies money, even if they couldn't catch him by the deposit he made, they would have figured him out soonest because there are audit accountants or account balancing procedures for such companies I believe.

Gambling when done excessively is bad mostly these days when there is the deceit of privacy due to online access on personal devices, one may forget that KYC requirements was filled at the onset and that the casino platforms may have a good idea on your income expenditure based on how you fund your wallet and place your bets.

[Orpichukwu]

Just like the story of the banker lady who was trusted by her employer, but she was using that trust to her own advantage, stealing from the bank and feeding her gambling addiction until she was discovered.

Once someone is addicted to gambling, if they are noticed, they should try as much as possible to avoid anything that will lead to them gaining access to money, both the one that belongs to them and the one they don't own, because what they will only think about is how to double that money.

[Apocollapse]

Without he convert the money to cryptocurrency, the authority will still able to catch him because the money are in banks, banks can record all transactions. It's hard for employees to hide their trace, they have to receive the money in cash, unfortunately not all positions have direct relation to company's funds.

And this is why many companies prefer to not hire to work with them if they're a gambler, there have been many cases about this.

[Cantsay]

That money is not his own but he used it to gamble. I think it will start from let me double the money and I will return the money stolen from the company back.

That’s how most people think when they start to use money that doesn’t belong to them to gamble. They will be like, let me just use it this time, I have been lucky in the past so there’s a high chance that I’ll be able to double it and if I double it I’ll have the other half to keep for myself. That’s the thought of so many irresponsible gamblers out there.

According to the article, it said “he used the money ($650,000) to buy crypto for gambling purposes”, if it’s true that all those money went into gambling then it means that the man’s life is gone for good because even if he serves the 33 months time he was sentenced to if he comes back to society he will most likely commit more to fuel is gambling activities for someone to steal and spend such an amount on gambling means that their addiction have gotten to the extreme.

[Byebyebtc]

Just like the story of the banker lady who was trusted by her employer, but she was using that trust to her own advantage, stealing from the bank and feeding her gambling addiction until she was discovered.

Once someone is addicted to gambling, if they are noticed, they should try as much as possible to avoid anything that will lead to them gaining access to money, both the one that belongs to them and the one they don't own, because what they will only think about is how to double that money.

The story will never end, people will still always make the same mistake, because they never learn from experience of others, they like to fall in that situation, while they pray to God to save them out of the predicament.

Addiction is a big disease, it spreads wide, and yes if someone cannot withstand the pressure that comes with handling finance for a company, they shouldn't be in that position. Good thing he was caught and thanks to blockchain technology for making things transparency in this dangerous world we live in.

[FirmWars]

Probably his intentions was never to steal  but to take the money and replace it back after some success, unfortunately gambling is what it is, and when one have started an attitude that they practice for long, it becomes a habit. It seem he was even working in a firm that was paying him very well to be able to deal with such a big amount, but he let his greed took over him and that's what usually happen to individuals that can not control their self.

[PostQuantumBTC]

According to the article, it said “he used the money ($650,000) to buy crypto for gambling purposes”, if it’s true that all those money went into gambling then it means that the man’s life is gone for good because even if he serves the 33 months time he was sentenced to if he comes back to society he will most likely commit more to fuel is gambling activities for someone to steal and spend such an amount on gambling means that their addiction have gotten to the extreme.

Prison is also a friend to some people, example is people like him. Not that he will just spend all the 33 months in prison like that, he will be in the correctional center where his gambling addiction will be medically and psychologically treated, he may change if he regrets about it.

[rbynxx]

That money is not his own but he used it to gamble. I think it will start from let me double the money and I will return the money stolen from the company back.

I think it was possible but he thought again the second time I guess to triple it instead lol. Well, he'll probably learn his lesson now that he's caressing the jail's gate and hope he does because that's what matters if you made such bad decisions when you're free.

[Joy- maker]

That money is not his own but he used it to gamble. I think it will start from let me double the money and I will return the money stolen from the company back.

I have witnessed many occasions were someone who is gambling addicted will be given money for something else and the person will use the money to gamble with this their fallacy thinking, that he  will double the money and it's very wrong. And in this case of this 39 years Jason what he did is a criminal act and he deserve the jail. First the money is not his own rather the money belong to the company his working with, and I see no reason for him to temper with the company's money even if he is gambling addicted, because being addicted to gambling is not a reasonable excuse to steal the money of the company his working with. And from the way I saw things from my perspective I don't think he had the intention of returning back the stolen money to the company even if he successfully double the money as you think, because this is pure stealing from.

[BABY SHOES]

Just like the story of the banker lady who was trusted by her employer, but she was using that trust to her own advantage, stealing from the bank and feeding her gambling addiction until she was discovered.

Stories like this are indeed many, and if someone is addicted to gambling as soon as there is an opportunity he will do anything including stealing in order to fulfill his desires for gambling.

Once someone is addicted to gambling, if they are noticed, they should try as much as possible to avoid anything that will lead to them gaining access to money, both the one that belongs to them and the one they don't own, because what they will only think about is how to double that money.

Those who are caught stealing money for gambling can only surrender... and usually they will not be able to double the money in gambling even though their minds say “they can”, still most cases end up in prison.

[SmartGold01]

This is common nowadays with workers, that is why many companies today don't employs gamblers and whenever they noticed that their staff is a gambler automatically they are being fired because they can't afford to lose part of their money into gambling. Of course one thing that usually fuel this gambling is "let me be Smart and double the bet and have big payout" usually leads to addiction and they wouldn't know when they would lose everything to the gambling site.

[Justbillywitt]

That money is not his own but he used it to gamble. I think it will start from let me double the money and I will return the money stolen from the company back.

I am familiar with story like this, I used to know someone who was working in an establishment somewhere years ago. He was privileged to be working were he has access to the business money and he is a gambler, he will always take money from the business account to gamble with the intention of replacing it, but he always ends up losing most of the time that was how he ended up using up the business money without replacing it. Before it was time for making monthly account he fled and never came back till date I haven't heard or seen him. When you are a gambler and you have access to money that are not yours, you might end up indebting yourself if you're not careful.

[Shinpako09]

Recently in our country, a bank messenger was arrested for stealing $11k, which he used for online gambling. He was tasked by his bank manager to deposit $18k, but later on they lost contact with him. He admitted he stole $11k to play card games online. If taking a loan to gamble is already beyond the line, taking someone’s money to gamble is even more insane. That’s something I will never do as a gambler. That is an extreme level of addiction.