The japanese police stops an operator of change of Ripple for fraud

The Tokyo police has arrested the manager of a platform of exchange and negotiation of Ripple. He is accused of having defrauded a third party investor. This arrest is part of a wider survey on a massive fraud.

A scam which dates 2015

According to several daily japanese published yesterday, the Tokyo police to suspects in custody Yuki Takenako. This is both the administrator and the manager of Ripple Trade Japan, a market that allows the trading of virtual currency XRP in Ripple. The 31-year-old has been arrested for defrauding approximately $ 12,500 to an investor is confident of having sent the money on the account to Ripple Trade Japan in march 2015. The authorities say that Takenaka has taken the money despite the fact that the company was in bankruptcy. The cybercrime division of the department of the Tokyo metropolitan police is also investigating allegations that Takenaka would have defrauded nearly $ 150,000 from 40 customers in Japan after having drawn without a filing fee.


A massive fraud

Established in may 2014, Ripple Trade Japan has collected money from its users in exchange for ious. These same users can then exchange their acknowledgements of debts or convert it to XRP or in cash. The Tokyo police also believed that Takenaka has manipulated the systems of his company for personal reasons to issue more than $ 1 million between November 2014 and February 2015. He would have exchanged some of them with acknowledgments of debts to other markets of Ripple. Before you convert in case. In march 2015, the scam was discovered when users were unable to withdraw their deposits. The official web site of Ripple Trade Japan was closed shortly after. According to information provided by the police, Takenaka has admitted most of the charges.

For novices in the field of crypto-currencies, here is a video presentation of the Ripple.

Source : Cryptocoinsnews