Crypto Fraud: Norway Charges Four

Norway Charges Four Men in $86.5 Million Crypto Fraud Case

• Four Norwegian men charged with defrauding investors of NOK 963 million ($86.5 million) from March 2015 to November 2018.
• The scheme involved fake investment packages in cryptocurrencies and shares, with no real investments made.
• Over NOK 700 million ($62.7 million) laundered through a Norwegian firm and accounts in Asian countries.
• Key figures include Terje Hvidsten and Dag Hætta Eriksen, both with prior fraud convictions.
• The case will be tried in Oslo District Court over a period of 60 days starting September.

The Norwegian authorities have indicted four men for orchestrating a large-scale investment fraud involving cryptocurrencies, resulting in losses of $86.5 million from numerous victims globally. The trial is set to commence in Oslo District Court.