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The US Department of Justice (DOJ) crest can be seen at its headquarters in Washington, DC, the United States, on May 10, 2021.
Andrew Kelly | Reuters
Swedish man wanted by the United States for defrauding more than 3,500 victims over $ 16 million has been sentenced to 15 years in prison for securities fraud, wire fraud and money laundering, the ministry said Thursday of Justice.
The DOJ claims that Roger Nils-Jonas Karlsson, 47, led an investment fraud scheme from 2011 until his arrest in Thailand in June 2019. He pleaded guilty in March.
According to court documents, Karlsson encouraged victims to buy shares in a program called “Eastern Metal Securities” using cryptocurrencies like bitcoin, promising “astronomical returns” tied to the price of gold.
Instead, the funds paid by these victims went into Karlsson’s personal bank accounts, where the money was invested in expensive homes, a racehorse and a resort in Thailand. Karlsson was ordered to relinquish this Thai resort town and various other properties and accounts as part of the sentence.
Karlsson maintained the ruse, in part, by offering updates and account statements to victims. He also explained the late payments by falsely claiming to work with the Securities and Exchange Commission.
The Karlsson fraud targeted financially precarious investors, and the United States is seeking redress on behalf of those victims.
In addition to having to repay $ 16,263,820, a restitution order would have to be issued by the court within 90 days. Victims who have not been in contact with the U.S. District Attorney’s Office for the Northern District of California have been encouraged to submit information as soon as possible.
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