U.S. State senator faces charges for cryptocurrency fraud
Today, cryptocurrency-related crime still remains a threat to the crypto industry, with shady businesses and cybercriminals increasing theft, money laundering, and fraud.
Crypto crimes do not exclude government legislators, as Georgia state senator, Michael Williams, is pending charges for crypto fraud. The senator is currently in the police custody. According to the court documents, in May of 2018 Williams allegedly called authorities and falsely reported the theft of crypto-mining equipment, which he valued at $300,000.
William is currently facing three criminal counts: insurance fraud, false report, and false statement. In response to the announced charges, his attorney A.j. Richman stated,
“We’re not really apprised of their evidence yet. They haven’t disclosed that. I’m sure they will soon, but at this point, we don’t know what it is they’re saying other than what the indictment says.”
Prior to these criminal charges, Williams was a supporter of crypto-related bills and advocate for anti-immigrant policy. He reported to jail on January 2nd, and is currently awaiting his trial.