March 29, 2024

New Zealand Police Confiscate Cryptocurrency $ 4.2 Million In Movie Piracy Investigation

New Zealand Police Confiscate Cryptocurrency $ 4.2 Million In Movie Piracy Investigation

The National Police of New Zealand seized cryptocurrency worth about 6.7 million New Zealanddollars from a person allegedly involved in online movie piracy in the United States.

According to local media, New Zealand policein addition to cryptocurrencies, 1.1 million New Zealand dollars ($700,000) were seized as part of a criminal trial. A 31-year-old programmer, Yaron David Makivor, is believed to be involved in the case.

The authorities also released a statement in whichIt is alleged that $6.2 million in cryptocurrency and $800,000 in fiat were seized this summer from an unidentified suspect. In November, police seized another $472,000 in cryptocurrency and $377,000 in fiat, according to the statement.

In this case, New Zealand police suspectthat Hamilton-based McIvor was involved in money laundering as he received millions of dollars from an illegal website for movie streaming.

Detective Chief Inspector Kate Kay, head of theWaikato, said his team became interested in the case after receiving information from the US Internal Revenue Service (IRS), which in turn received suspicious activity reports from PayPal.

According to the police report, Makivor receivedabout $2 million from the streaming site, which was allegedly deposited into his bank accounts through international bank transfer services, PayPal and Stripe. Kay commented:

Introduction of illegally obtained funds into the NewZealandia constitutes money laundering and the police thoroughly investigate and seize the assets of those who commit such activities […] regardless of where the crime is committed.

Machivor's lawyer, Hamilton Truk Tran, said his client denied money-laundering allegations.