Just Before Bankruptcy, This Crypto Exchange’s CEO Allegedly Used Money Deposited By Customers To Buy Bitcoin To Pay Off Company’s Debts
Posted On October 22, 2024
Australia’s financial market regulator charged the former CEO of a defunct cryptocurrency exchange for embezzling $1.47 million that a customer had sent to buy Bitcoin (CRYPTO: BTC).
What Happened: In a press release shared Tuesday, the Australian Securities and Investments Commission (ASIC) stated that Grant Colthup, the ex-CEO of Mine Digital, allegedly used the funds to pay off the liabilities of the parent company, ACCE Australia Pty Ltd, or buy cryptocurrencies for others, or both.
The customer deposited the funds but never received the promised …
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