A Swedish national was sentenced to 15 years in prison Thursday after pleading guilty to defrauding thousands of people in a multimillion-dollar Ponzi scheme, the Justice Department announced.

Roger Nils-Jonas Karlsson, 47, pleaded guilty to various securities fraud, wire fraud, and money laundering charges on March 4 for his role in the scheme, which solicited victims to purchase shares in a faux investment venture he named “Eastern Metal Securities,” according to court documents.

The victims, who were told they would receive large returns, paid into the scheme using Bitcoin and other digital currencies. Instead of investing the funds, Karlsson transferred them into his personal bank accounts and used the money to buy homes, a racehorse, and a resort in Thailand for himself, according to the Justice Department.

TWO CHARGED IN $650 MILLION PONZI SCHEME INVOLVING FAKE CATTLE INVESTMENTS

During the period of the scheme, which lasted from 2011 until he…

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