king pin drug dealer bitcoin confiscated

[bulletbob]

A fast food worker built up a multi-million pound fortune by selling drugs via the dark web after he became “addicted” to dealing in vast amounts of illegal substances.
Paul Johnson, who worked at KFC after getting a first class degree in business studies, ran his postal drugs business from his attic at home in Market Harborough, Leicestershire.
Johnson's 28-year-old wife, Lia, was said to have turned a blind eye to her 32-year-old husband's criminality, which funded the cash purchase of their £175k home and two cars.



https://www.yahoo.com/news/paul-john...104555378.html




seems he had his cash and bitcoin confiscated , his dope and probably his property .
Just goes to prove anything can be confiscated

[bulletbob]

and in another story
U.S. marshal's to auction off millions in bitcoins confiscated from drug dealers



https://www.washingtontimes.com/news...-37m-bitcoins/

[stjames1_53]

But but but, PJL says that can't happen...............this must be a mistake

[bulletbob]

But but but, PJL says that can't happen...............this must be a mistake

yes there must be some mistake obviously It must be on my end PJl is never wrong . my posts must be fake news.


here is a post that show how bad of a investment it really is it .
kinda odd how criminals across the globe like bit coin ,kinda makes me wonder if many of those into bitcoin are criminals .
it would be the perfect currency for drug dealers and spy's con men .



A judge has ordered the confiscation of bitcoin worth more than £900,000 from a jailed hacker in the first case of its kind for the Metropolitan police.
Grant West, 27 – previously described as a “one-man cybercrime wave” – had about £1m-worth of the cryptocurrency seized from a number of accounts after his arrest in September 2017, but the value of bitcoin has since fluctuated radically, complicating attempts to compensate victims.
Proceedings in Southwark crown court on Friday morning were temporarily stalled as the order signed by West agreeing to the confiscation of the cryptocurrency related to a higher amount than that which was confiscated.
Eventually announcing the order under the Proceeds of Crime Act, the judge, Joanna Korner QC, said: “I therefore order a confiscation of that amount, £915,305.77, to be paid as a way of compensation to the losers.”
She said West would spend an additional four years in jail if he refused. He has agreed to comply with the order.
UK authorities have been in possession of 82 bitcoin previously obtained by West through criminal activity since before his sentencing. Unlike fiat currencies, there is no centralised exchange rate for the currency, which rose in value to almost £18,000 a bitcoin in December 2017 before falling below £7,000 in May 2018.
The value of the seized assets was calculated by authorities on Friday at a rate of about £8,500 a bitcoin.

[bulletbob]

here a post that explains in detail about why criminals prefer bitcoin.
naturally being the criminal they don't concentrate on its vulnerable side its huge fluctuation in value up and down


Law enforcement is concerned that virtual currencies such as bitcoin — already known to be used for illegal transactions, including sex and drug trafficking — can play a much larger crime role as more investors use it as their preferred payment option.
Digital or virtual currency, frequently referred to as cryptocurrency, is not governed by any central authority or government. Although local entrepreneurs say cryptocurrency has many legitimate uses, the speed and relative secrecy of these trades have also been proven to draw criminals.
Some offenders use bitcoin because users can open a pocket to ship and get bitcoin without providing a name or identity. There's not any bank or central authority, like a government, to control this information. Bitcoin also became a favorite method for making payments when a computer system is taken over by ransomware.
Bitcoin is not entirely anonymous and transactions can be traced by authorities through bitcoin trading sites. Other cryptocurrencies, such as Monero, are becoming popular for dark web uses including drug trafficking and human trafficking, said Jad Mubaslat, Wright State University graduate student and creator of BitQuick.co, a bitcoin trading platform.





https://bitcoinexchangeguide.com/how...it-be-stopped/

[PJL]

......in both cases in the above links , the bitcoins were not confiscated . When criminals are charged with serious crimes involving long prison terms , they would surrender their passwords for a reduced sentence ........however , they may choose to do the hard time , knowing their bitcoins were safe , until they got out of prison.....it's their choice. They could even tell a third party the passwords , so they could hire a top-shelf barrister , and appeal the sentence ?( that's how rich people stay out of prison).....either way , it's still their choice , and it's certainly safer than having the same amount in a bank , or boxes full of cash , or in gold bars under the bed. Bitcoin is just a better currency - it won't prevent crimes from being committed.......(lol)

[PJL]

Bitcoin will not increase or decrease general crime , it's just money . Law enforcement agencies are just doing the bidding of banks , because banks don't want Bitcoin to expose the corruptions in the current banking system , or the monopoly that banks have over most of the financial world.

[waltky]

Granny don't trust guys named Paul...

... never has, never will.

[bulletbob]

Bitcoin will not increase or decrease general crime , it's just money . Law enforcement agencies are just doing the bidding of banks , because banks don't want Bitcoin to expose the corruptions in the current banking system , or the monopoly that banks have over most of the financial world.

thats where your wrong PLJ its easy for criminals to use it.but the big thing is how much the value of it varies you can loose 10 to 15 grand on one coin and to bad so sad.also its not money tell me LJP what nation is it legal tender in .

[bulletbob]

Granny don't trust guys named Paul...

... never has, never will.

Actually i think its ken.
Plj is the name of a small company in new south wales Australia run by a guy named ken .