October 19, 2021

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

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

New Zealand National Police seized about 6.7 million New Zealand cryptocurrencies dollars from a person allegedly involved in online movie piracy in the United States.

According to local media, the New Zealand policein addition to cryptocurrencies, 1.1 million New Zealand dollars ($ 700,000) were withdrawn as part of the criminal process. Involved in the case, allegedly, a 31-year-old programmer, Yaron David Makivor.

The authorities also issued a statement in whichit is alleged that this summer $ 6.2 million in cryptocurrency and $ 800,000 in fiat were seized from a suspect whose identity was not disclosed. According to the statement, in November the police seized another $ 472,000 in cryptocurrency and $ 377,000 in fiat.

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

Senior Detective Kate Kay, Head of OfficeWaikato, said his team was interested in receiving information from the US Internal Revenue Service (IRS), which, in turn, received suspicious activity reports from PayPal.

According to police, Makivor receivedabout $ 2 million from a streaming site, which is allegedly credited to his bank accounts using international bank transfer services, PayPal and Stripe. Kay commented:

The introduction of illegally received funds in the NewZealand is money laundering, and the police thoroughly investigate and seize the assets of those who commit such activities [...] regardless of where the crime was committed.

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

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