Wednesday, June 2, 2021

A former KFC employee built a cryptocurrency drug empire. He lost everything

On June 8, a Leicester court ordered the confiscation of more than £1.8 million from a U.K.-based individual who ran a multibillion-dollar cryptocurrency [...] https://www.pinterest.com/pin/1085437947660215829/

On June 8, a court in Leicester ordered the confiscation of more than £1.8 million from a UK person who ran a multi-billion dollar cryptocurrency drug empire. According to the Harborough Mail, that person was Paul Johnson, 32, a former KFC employee. From his home in Leicestershire, he ran a marketplace on the Darknet. Illegal drug trade hidden behind bogus tea trade Johnson, who graduated with a business degree, posed as a tea trader, which was just a cover for his international drug trade. Authorities reported that Johnson cold-ported and sold more than 200 kilograms of heroin, cocaine, LSD, marijuana and ketamine. All of the store's purchases were made with bitcoin. Local media quoted Judge Martin Hurst as saying that the drug dealer generated total revenue of around £2,183,304. Law enforcement managed to confiscate only £1,837,601. Johnson will have to hand over that amount within three months. Other assets will also be confiscated, including a Range Rover worth £20,000 and a Nissan Juke worth £30,300. The cars will be put up for sale. Drugs found in Johnson's home The former KFC employee was charged with possession of Class A and B drugs, possession with intent to sell Class A drugs, illegal importation of goods into the UK and five counts of money laundering. Johnson's ex-wife, Lia Taylor-Walton, was sentenced to two years in prison with probation. She was charged with complicity in an online drug empire. The court also charged her with acquiring property with illegal money. Law enforcement confiscated drugs found in Johnson's home. Among them were such specifics as MDMA pills, LSD, heroin and ketamine, as well as paraphernalia used to portion them. On May 19, Cointelegraph reported on a study by Crystal Blockchain Analytics, which found that the total value of Bitcoin sent on the Darknet increased by 65% in Q1 2020. Drug sales aren't the only illegal activity taking place on the Darknet. A week ago, we wrote about credit card data theft. If you are interested in this topic be sure to read our recent article. Tags bitcoin Darknet darknet drugs drugs illicit transactions

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