Tag: theft

More than R1-billion was lost to the South African agricultural economy in 2018 thanks to livestock theft. According to a study released by UNISA, there were more than 29, 000 cases reported over the last financial year, with thousands of animals stolen. These thefts weigh heavily on the pockets of farmers and put them under immense pressure to find sustainable solutions that don’t bypass the law but do protect their property and their livelihoods. Into this complex quagmire of loss, livelihood and legal ramification steps agri-tech, the trending term for technology designed specifically for the agricultural sector and its unique challenges. Agri-tech has the potential to mitigate the loss of livestock, to reduce financial pressure on the agricultural industry and to minimise the burdens of distance and real-time responses to livestock threats.

FarmRanger, a clever blend of technology and agricultural devices, delivers an elegantly layered platform for livestock management and security. FarmRanger uses a combination of animal collar and app. The collars are fitted to a select number of animals in the herd – for sheep it is approximately one animal per 300 – and constantly monitor the movement of the sheep and, by extension, the herd. When any abnormal movement is detected, the system alerts the relevant person, for example the foreman, the farmer or the neighbourhood watch, by sending them a ‘missed call’ from the collar as well as an app notification. They then use the app to track the animal in real-time, following the detailed information on the app to find the animal’s location and effectively prevent it from being killed or stolen.

“The rising trend of stock theft makes it essential for farmers to use technology so they can stay one step ahead,” says Marius van der Merwe, Product Manager of FarmRanger. “However, the solutions need to be simple and reliable, providing farmers with valuable insight when it is needed the most. FarmRanger is designed to be functional and effective, delivering the right information to farmers so they can mitigate the impact of stock theft on their businesses.”

In addition to providing the farmer with relevant alarms and information, the app shows daily location updates, historical animal positions, and collar data, such as battery level. Working alongside the collar, the app is a simple and effective solution designed to fit into the farmer’s life, not make it more complicated. FarmRanger uses high-end technology – smartphones, GPS, electronic collars, real-time data and application delivery – to provide farmers with a hands-on and reliable tool that anyone can pick up and use without a hefty learning curve. Farmers generally embrace technology when it adds value to their operation; ultimately, they want to focus on the business of farming, so the supporting technology needs to be effective and easy to integrate.

Agri-tech solutions offer farmers an extra layer of insurance; however, they also need to add value. This is what FarmRanger does. The platform minimises the impact of stock theft while also providing customer service, a track record that spans more than 20 years, and technology that works within existing infrastructure limitations. The collars work on the mobile phone network and don’t require that the farms then install radio networks and battery life is up to six months on a rechargeable battery.

The solution comes from the ETSE Electronics stable which forms part of the Alphawave group. It has successfully introduced more than 4500 active units to 2000 farms across South Africa and Namibia and is tailored to suit the needs of the medium and large farming enterprises. It gives them the security and peace of mind they need to lock in their livestock, ensure their livelihoods and track their herds. Implementation of the solution is growing steadily, cementing FarmRanger’s reputation and reliability.

“It is a trusted 24/7 shepherd that now forms an integral part of the agri-sector repertoire and, as such, is continuously undergoing innovation and development to ensure it remains relevant and on the edge of what agri-tech can offer,” concludes Marnus van Wyk, Director of the Alphawave Group responsible for growing the agri-tech product portfolio.

For further information visit www.alphawave.co.za

Ends

ADAM HUNTER

HEAD HONCHO

+27 71 178 7035

+27 21 974 6283

hello@hooklinesinker.biz

www.hooklinesinker.biz

By Raymond Brown for Cambridge News

A secretary sold £48 000 of office supplies bought on a company credit card on eBay and told police she “got a buzz from treating her family and friends to nice things they could not afford”.

Jessica Prince, 35, of North Brink, Wisbech, was suspected of fraud after her employer’s accountant received an invoice from an unregistered supplier.

Prince had been selling ink cartridges and other office supplies purchased on her company credit card for a profit using her personal eBay account.

She has been jailed for 20 months.

How Prince’s scheme worked
Her scheme was discovered after it was found that the company had spent more than £48,000 on ink cartridges and other office equipment in the space of seven months, with invoices being doctored to conceal what was actually being ordered.

Prince had been employed as the company director’s personal secretary and was responsible for the smooth running and administration of the company office, including ordering stationery, office furniture, booking taxis, flights and hotels.

An internal investigation revealed Prince had been abusing her position to make large purchases but hiding it from the company director and accountant.

Prince was arrested on July 26 last year and in interview admitted having used her company’s credit card to purchase items and then sell them on for profit.

Officers were told it started off as a mistake after she accidentally purchased the wrong printer toner and was told it was non-refundable. She claimed she was told to sell it through eBay and give the money back to her company. She used her own personal eBay account to sell the toner but kept the money.

This was the first of many instances, placing bigger orders worth thousands of pounds on the company credit card, selling them on for a profit using her personal eBay account.

Prince told officers she “got a buzz from treating her family and friends to nice things they could not afford” but “felt like scum at work because she knew she was committing fraud”.

By Jade Scipioni for FOX Business

Accidentally slip some of those new office pens into your bag to save a couple bucks? Discretely tuck some of your employer’s new manila folders into your briefcase?

If so, join the club of office thieves whose numbers have been on the rise over the last 15 years.

According to data from the Association of Certified Fraud Examiner, office stealing of non-cash items – ranging from scissors and notebooks, to staplers and paperclips – has ballooned to 21% of corporate-theft losses in 2018 from 10.6% in 2002.

The Atlantic, which was first to report the trend, added that most workers aren’t even coy about it, with more than 52% of workers admitting they steal company property in a survey from 2013.

Hot items include scissors, notebooks, staplers and tape, especially during the gift-wrapping holidays.

The uptick has even forced managers to routinely stock up on 20% more supplies in order to account for lost items right off the bat.

Mark Doyle, the president of the loss-prevention consultancy Jack L. Hayes International, told The Atlantic that there are a few factors to blame for office ransacking.

He points to the decrease in supervision and the uptick in employees working from home for the increase.

By Abrar Al-Heeti for C-NET

The US Department of Justice on Monday charged Huawei with theft of trade secrets, wire fraud and obstruction of justice.

A 10-count indictment alleges that China’s Huawei stole trade secrets from US carrier T-Mobile beginning in 2012. Huawei also allegedly offered bonuses to employees who stole confidential information from companies. In addition, a 13-count indictment charged four defendants, including Huawei and Chief Financial Officer Meng Wanzhou, with financial fraud. The indicted defendants also include affiliates Huawei USA and Skycom.

“The charges unsealed today clearly allege that Huawei intentionally conspired to steal the intellectual property of an American company in an attempt to undermine the free and fair global marketplace,” said FBI Director Christopher Wray in a statement. “To the detriment of American ingenuity, Huawei continually disregarded the laws of the United States in the hopes of gaining an unfair economic advantage.”

The charges come amid heightened scrutiny for Huawei, the world’s largest supplier of telecom equipment and the No. 2 smartphone maker behind Samsung. The US has already banned Huawei from selling networking equipment here, but a number of other countries have either already ceased working with the company, or are considering a ban. The Chinese government and Huawei have said the moves could have ramifications since the company contributes to industry-standard wireless technologies like 5G.

Both the US and China are jockeying for leadership in the next-generation of cellular technology, which promises higher speeds and the ability to handle more connected devices. US officials have offered warnings about Huawei and its ties to China.

“There is ample evidence to suggest that no major Chinese company is independent of the Chinese government and Communist Party — and Huawei, which China’s government and military tout as a ‘national champion,’ is no exception,” said Sen. Mark Warner, a Virginia Democrat who’s vice chairman of the Senate Select Committee on Intelligence.

Huawei, meanwhile, denied any wrongdoing.

“Huawei is disappointed to learn of the charges brought against the company today,” the company said in an emailed statement.

“After Meng’s arrest, the company sought an opportunity to discuss the Eastern District of New York investigation with the Justice Department, but the request was rejected without explanation,” Huawei continued. “The allegations in the Western District of Washington trade secret indictment were already the subject of a civil suit that was settled by the parties after a Seattle jury found neither damages nor willful and malicious conduct on the trade secret claim.”

T-Mobile declined to comment.

Two charges
According the first set of indictments, Huawei began stealing information about a phone-testing robot from T-Mobile called Tappy. Huawei engineers allegedly violated confidentiality and nondisclosure agreements by taking pictures of Tappy, taking measurements of parts of the robot and stealing a piece of it. When T-Mobile found out and threatened to sue, Huawei falsely said the theft was done by rogue actors within the company, according to the indictment.

T-Mobile sued anyway, and in 2017 won its case against Huawei, with a jury awarding it $4.8 million.

Despite Huawei’s insistence that the action was a one-off affair, the Justice Department says emails obtained during the investigation found that the theft of secrets from T-Mobile was a companywide effort.

It has been clear for some time that Huawei poses a threat to our national security.
Sen. Mark Warner
Huawei could face a fine of up to either $5 million or three times the value of the stolen trade secret, for conspiracy and attempt to steal trade secrets. The company could also face a fine of up to $500,000 for wire fraud and obstruction of justice.

In the second set of indictments, Meng was charged with bank fraud, wire fraud and conspiracies to commit bank and wire fraud. Huawei and Huawei USA are charged with conspiracy to obstruct justice. Huawei and Skycom are charged with bank fraud and conspiracy to commit bank fraud, wire fraud and conspiracy to commit wire fraud, violating the International Emergency Economic Powers Act and conspiracy to violate IEEPA, and conspiracy to commit money laundering.

The charges are related to the company’s alleged efforts to evade US sanctions and do business with Iran. Last month, Meng was detained in Canada at the behest of the Justice Department over those claims. While in a Vancouver courthouse to discuss her bail, a lawyer with Canada’s Justice Department alleged she defrauded US banks into making transactions that violated those sanctions, according to Bloomberg.

The founder’s daughter
Notably, Meng isn’t just the CFO of Huawei. She’s the daughter of the founder and president, Zhengfei Ren. And her arrest doesn’t just have ripple effects across the tech industry; it threatens to blow up an already precarious relationship between the US and China over trade talks.

Beyond trade, others see Huawei as a national security issue.

“It has been clear for some time that Huawei poses a threat to our national security, and I applaud the Trump Administration for taking steps to finally hold the company accountable,” Warner said.

Huawei has consistently denied any wrongdoing by Meng. At the World Economic Forum at Davos, Huawei Chairman Liang Hua called for a quick resolution of the case and the release of Meng, according to Reuters.

Meng’s lawyer, Reid Weingarten, told Reuters on Tuesday that she was a victim of “complex” China-US relations.

“Our client, Sabrina Meng, should not be a pawn or a hostage in this relationship.” he said, using one of her Western names. “Ms. Meng is an ethical and honorable businesswoman who has never spent a second of her life plotting to violate any US law, including the Iranian sanctions.”

Huawei also told Reuters that it had sought to discuss the charges with US authorities, “but the request was rejected without explanation.”

Over the past few months, Huawei has endured a wave of negative sentiment. UK carrier BT said it’d pull Huawei equipment out of its 4G network and ban it from any future 5G deployments. Japan reportedly banned government purchases from Huawei. Also last month, Andrus Ansip, the EU’s technology chief, warned that Huawei and other Chinese companies pose a risk to the bloc’s industry and security, according to Reuters.

All of the negativity could have a trickle-down effect on the company.

“[The case] puts every aspect of Huawei’s business in jeopardy in the US and EU, including consumer sales,” said Maribel Lopez, an analyst at Lopez Research. “Instead of being known for innovation, the company is positioned as criminal.”

By Wendy Knowler for Times Live

Do courier company drivers have the necessary training and experience to verify proof of identity and address before handing over a credit card, complete with its PIN number?

If First National Bank (FNB) client Ivan Kistnasami’s experience is anything to go by, definitely not.

He recently discovered that a fraudster had applied for a Discovery card in his name, and had it delivered to an address in Howick, KwaZulu-Natal, in November.

“With his new credit card and pin – and a massive credit limit of R102,000 – the fraudster had access to my cheque and credit card accounts, and within two days he had transferred all funds that were available, up to my credit limits, creating debt to the tune of R157,000,” the Pietermaritzburg resident said.

When he approached TimesLIVE for help shortly before the festive season corporate shut-down, his credit profile was in tatters and FNB had failed to honour his monthly debit orders.

“I believe that FNB was negligent in that they have delivered this credit card with the pin through a courier driver who clearly had no experience in verifying the documentation,” Kistnasami said.

The proof of address, a Woolworths account, bears an address which doesn’t quite match the font of the name; a clear sign of fraudulent tampering.

And the ID in Kistnsami’s name bore the photo of a black man, another obvious identity mismatch.

“FNB has my picture on their system, yet the courier driver accepted an ID document with a photo of someone very different.”

The courier company employee stamped the copy of the ID and the Woolworths account, and put his signature to the statement that he’d seen the originals and confirmed the copies to be true.

Kistnasami said when he approached FNB about the couriering of credit cards to its clients, “I was told that the bank does not allow clients to collect from the branch as they are trying to reduce the number of clients transacting at branches”.

In fact, since July 2018 FNB has not stopped allowing its clients from collecting their cards at a bank branch, but strongly discouraged that by charging them R200 if they choose to do so, while offering a free courier service.

“The reduction of card deliveries to branches is in accordance with the bank’s business and digital migration strategy, which continues to benefit customers from a convenience and cost-saving perspective,” the bank told TimesLIVE.

By December, thanks to the bank’s “convenient” delivery of Kistnasami’s card and PIN to the fraudster, he was deep in debt, his medical cover had been suspended due to non-payment, his insurance policy premiums had not been paid and his car insurance was a month in arrears.

TimeLIVE asked FNB whether fraudsters had abused the bank’s card courier policy to acquire credit cards in the name of other clients and whether it intended to implement new security measures to counter this form of fraud.

Does the bank feel it is appropriate for courier staff to have to determine whether or not an alleged card holder’s proof of identity/address are authentic or not?

Responding, FNB said very little, other than Kistnasami was the victim of identity theft and had been refunded.

“Our investigation into the circumstances of the fraud is still pending and we will communicate with the customer until the matter has been amicably finalised.

“Due to the ongoing investigation, we cannot disclose any further information on the matter.”

Kistnasami told TimesLIVE that he has repeatedly been told by FNB that the investigation was still “ongoing”.

“Yes, I was reimbursed, but the accounts are on hold. When I try to settle or balance the accounts so that I can close them, the system says ‘on hold’.

“All I want is to put this nightmare behind me and move on with my life,” he said.

“I do not want the bank to come back to me a year or more later and say I owe them a large sum of money.”

Asked to comment, Discovery said that as Discovery Card was “still operating through a joint venture with FNB” it would leave FNB to comment on the matter.

When Discovery Bank launches later this year, the spokesman said, “it will have incredibly strong security controls”, which would be explained at the time.

FNB is the only bank which charges its clients a fee for wanting to collect their cards from a branch of the bank.

Its competitors do the reverse, charging clients a fee of between R150 and R175 to have their cards delivered to their chosen address by courier.

By Shanice Naidoo for IOL

A Bloubergstrand man had his Absa business account swindled out of R3.1 million while he was in Miami for two months.
Feruccio Ferucci left Cape Town in October without suspecting that his banking information had been stolen.

Around the end of October, his Vodacom SIM card stopped working as well as his internet banking. Growing suspicious, he contacted his daughter in Cape Town to find out from Vodacom what had happened. They informed her that a SIM swap had been done.

“I did not authorise the SIM swap. My phone stopped working for about three weeks and then started working again.

“I haven’t heard anything from Vodacom telling me what happened because my phone just started working again three weeks later,” said Ferucci.

When he returned on December 2, he was shocked to find out from his staff about transactions which were not approved by them at his business in Paarl or by himself. These were fraudulent transactions which had gone off the business account during two of the weeks which his phone had not been working equating to R3.1m.

“These transactions were around R300 000 each and there were about ten transactions. I then contacted my attorney and he referred me another attorney who specialises in this type of crime. I then wrote a protest letter to Absa threatening to close my account with them and my money was refunded around December 23,” said Ferucci.

On speaking to the new attorney, he was told that this was often done to people who are overseas because perpetrators assume one would not check their phone regularly.

“The attorney told me that 90% of the cases he deals with involved people who went overseas. There is no doubt in my mind that what happened to me was promoted by employees of both Vodacom and Absa.

“They probably didn’t steal the money but they probably sell the information,” said Ferucci.

Both Absa and Vodacom have said they are investigating the matter.

IRS Forensic Investigations, which investigates financial, organised and cyber crimes director Chad Thomas said sim swaps are a major issue, with some victims reporting that they have become victims of crime while their phones have been off while they have been travelling long distances.

However, the breach of personal data, including credit card numbers is not just confined to individual hacks via trojans or malware but is also as a result of highly sophisticated cyber attacks on data stored by corporates.

“People need to take cognisance of the fact that a sufficiently determined and capable hacker can take over someone’s online footprint if the correct measures are not taken to protect their information. However, it is not just the individual that needs to take precautions, but also corporates that are storing client’s information and have a responsibility to safeguard that information,” said Thomas.

By Warren Thompson for Business Day 

The South African Reserve Bank painted a grim picture on Monday that suggests as much as 75% of VBS Mutual Bank’s assets may have been stolen by its executives and directors.

“It’s a travesty that the failure of management put so many depositors at risk,” said Bank governor Lesetja Kganyago, at a media conference on the curatorship of VBS.

“Institutions such as banks rely on the governance processes, but when it’s the people responsible for the bank that are the ones perpetrating the crime, no amount of regulation can prevent that,” he said.

VBS, which was formed as a building society in the former Venda homeland, came to national prominence in 2016 when it gave former president Jacob Zuma a R7.8m loan after he was ordered to repay the state for upgrades made to his Nkandla home.

The bank’s failure may yet have grave consequences for municipalities in some of the poorest parts of the country, which stand to lose almost all of the R1.6bn they deposited with VBS, increasing the risk of budget shortfalls and violent protests that could result from a lack of service delivery.

Curator Anoosh Rooplal’s timing of the action he instituted on Friday to recover more than R1.5bn from the bank’s largest shareholder, Vele Investments, as well as from the bank’s executives and directors, was done to prevent further “dissipation of assets”.

But the amount of money stolen relative to the bank’s total assets is harder to establish, partly because the bank deliberately misled the regulator and also due to problems with the quality of its audit, which led the bank to withdraw its 2017 financial results.

Rooplal did not rule out seeking damages from the bank’s external auditor, KPMG, and the bank’s internal auditor, PwC, when the forensic report is completed towards the end of August.

According to the bank’s last available annual financial statements to end-March 2016, the bank had total assets of just more than R1bn.

By the end of January 2018, according to data provided by VBS to the Reserve Bank, the bank held total assets of R2bn, meaning it had doubled its balance sheet in the space of two years.

When asked what, if any, part of VBS’s loan book was performing, the curator said that the home loan mortgage book of about R400m was behaving consistent with credit extended under arms-length credit agreements.

The performance of the vehicle finance book was mixed, with the curator noting a deterioration in the credit quality in the months leading up to the intervention by the Reserve Bank.

Based on a balance sheet of about R2bn, and with the curator seeking to recover R1.5bn from the “perpetrators of the fraudulent scheme”, it seems possible that as much as 75% of the bank’s balance sheet has disappeared.

Retail deposits

But there was relief for small depositors, with the Reserve Bank announcing that it has obtained a guarantee of R330m from the Treasury should it fall short in recovering the money owed to them.

The Bank announced last week that retail deposits, which include individuals, burial societies and stokvels, would be guaranteed to a maximum of R100,000 per customer.

This means that 97% of all depositors at the bank will be refunded their entire savings.

Stock losses, fraud not top-of-mind in SA

South African businesses need a different mindset to address ongoing stock losses and fraud.

In the absence of a “proper” risk mitigation plan and loss control blueprint, South African business owners will never really address the critical levels of theft and fraud impacting on our economy, according to commercial investigator and international risk consultant, Kyle Condon (Managing Director at D&K Management Consultants).

“Experience has taught me that trust and effective loss control do not go together. We live in a society that has criminal presence constantly lurking around us. Old style security measures and trusting of everybody have left businesses open to losses like an open wound exposed to a sewer. Employees need to be watched continuously and loss control tactics need to be revised to accommodate this,” says Condon.

With many businesses operating on shoe-string budgets, security is often one of the first things to go. Ironically, says Condon; “it should be one of the portfolios that get additional budget assistance. When, companies cut security, those employees that were always dissuaded from going through with criminal action often go over the edge and ‘raid the cookie jar’.”

While South Africa has one of the most corrupt governments sketched on the political portrait, expecting every employee to behave in a moral honest way is far from realistic. We see what our leaders do and follow suit.

Sadly, most companies choose to ignore this red flag and continue to fool themselves into believing that the presence of a uniformed security officer or two is adequate to prevent and deal with internal criminal activity. Condon believes that “old school” security is a thing of the past. “It is time we accept that our businesses, like our homes, require proper defences,” states Condon.

So, what exactly does this mean?

“Our business sector has major structural employment weaknesses, due largely to political pressures, window-dressed appointments and fear of union retribution, this has led to a breakdown of strong policies and procedures that existed in the past. Many managers are just too afraid to confront the issues or speak out in fear of being branded or painted with the race brush. And, as a result, policies and zero tolerance are eroded. Unions have gained a lot of power, often holding companies to “ransom” when it comes to enforcing strong security measures. Polygraphs, for example, are always declined by Union reps, searching procedures get labelled as an invasion of one’s privacy, etc. Old school security methods have been watered down to create a mere ‘illusion of loss control’,” he says.

Modern day loss control and security plans must include the following key concepts:

• Internal investigation specialists (undercover agents) deployed as, I like to say, ‘modern day spies’.
• Quarterly sweeping and debugging of executive offices and meeting rooms.
• Strike action plans, designed specifically for the individual company and its employees to provide proper Duty of Care during strike action.
• Alignment with a reputable forensic investigator or company who understands the methods, methodology and principles of fraud and financial crimes, in the workplace.
• Thorough pre-employment screening of new candidates, including checking of criminal records through fingerprinting.
• A steadfast CCTV viewing plan conducted off site by an independent viewer, providing monthly viewing reports covering all aspects of risky behaviour, suspicious actions and overall health and safety concerns.
• Travel risk reports, for employees traveling to potentially hostile environments both locally and internationally. This would include arranging VIP protection, where needed.
• Annual security surveys to address all shortcomings of the physical security measures of the business.
• Due diligence must become part and parcel of the sales teams’ portfolios, before stock or material leaves for suspicious clients an investigation unit should first check out that all is above-board, and that you are not being scammed.
• Handing over the time consuming and demanding security portfolio to a dedicated and qualified loss control manager.

“I do not agree with companies splitting up the security portfolio and contracting various players for various things. Managing this portfolio is a job that requires full time participation. This is exactly what D&K Management Consultants does for its clients. We provide the correct expertise in one unique portfolio designed around modern-day risk,” says Condon. Sexual harassment attorney San Francisco covers the cases of employment breaches.

“We are in many ways a country at war with itself, and business is not spared any of the risks that a ‘war’ environment brings. Therefore, defending your company requires a modern day ‘warfare’ approach. Intelligence, logic, expertise and strategy have replaced uniforms, guns and electric fences to a large extent”, Condon says, as he smiles.

Craig Wright, the self-proclaimed inventor of Bitcoin, is accused of swindling more than $5-billion worth of the cryptocurrency and other assets from the estate of a computer-security expert.

Wright, who claimed in 2016 that he created the computer-based currency under the pseudonym Satoshi ‎Nakamoto, allegedly schemed to use phony contracts and signatures to lay claim to bitcoins mined by colleague Dave Kleiman, another cryptocurrency adherent, who died in 2013, according to a lawsuit filed by Kleiman’s brother.

Kleiman’s family contends they own the rights to more than 1 million Bitcoins and blockchain technologies Kleiman mined and developed during his lifetime and that the assets’ value exceeds $5 billion, according to the Feb. 14 filing in federal court in West Palm Beach, Florida.

“Craig forged a series of contracts that purported to transfer Dave’s assets to Craig and/or companies controlled by him,’’ lawyers for Kleiman’s family said in the complaint. “Craig backdated these contracts and forged Dave’s signature on them.’’

Wright, an Australian who lives in London, couldn’t immediately be reached for comment on the suit, which also accuses the entrepreneur of violating partnership duties to Kleiman and unjustly enriching himself at his colleague’s expense. There is no attorney listed for Wright on the docket.

Wright and Kleiman formed a Florida-based company, W&K Info Defense Research LLC, in 2011 to focus on cybersecurity, according to the court filing. The pair also had earlier worked together on the development of Bitcoin and had extensive mining operations, according to the family’ s lawsuit.

The pair controlled as many as 1.1 million Bitcoins at the time of Kleiman’s death, according to the suit. They were held trusts set up in Singapore, the Seychelles Islands and the U.K., the suit says.

Wright said in a 2016 blog post and interviews that he was the main participant in a team that developed the original Bitcoin software under the pseudonym Satoshi Nakamoto. After skeptics questioned the claims, Wright said that he decided not to present any further evidence to prove that he is the creator of Bitcoin.

In the filing, Kleiman’s brother includes what he says is email traffic between himself and Wright in which the entrepreneur indicates he may have been holding 300,000 of Kleiman’s Bitcoins.

Dave “mentioned that you had 1 million Bitcoins in the trust and since you said he has 300,000 as his part,’’ the computer expert’s brother wrote. “I was figuring the other 700,000 is yours,” he added in the email. “Is that correct?”

“Around that,” Wright wrote back. “Minus what was needed for the company’s use.”

The case is Ira Kleiman v. Craig Wright, No. 18-cv-80176, U.S. District Court for the Southern District of Florida.

Source: MyBroadband

British man in Bitcoin heist

Armed robbers broke into the family home of a city financier turned Bitcoin trader and forced him to transfer the digital currency at gunpoint, in what is believed to be the first heist of its kind in the UK.

Four robbers in balaclavas forced their way into the home of Danny Aston, 30, who runs a digital currency trading firm, before reportedly tying up a woman and forcing Mr Aston to transfer an unknown quantity of the cryptocurrency.

Mr Aston lives in the picturesque village of Moulsford in South Oxfordshire, where episodes of Midsomer Murders have been filmed, in a rented four-bedroom converted barn estimated to be worth at least £700,000 on a private drive.

Police were called at around 9.40am on Monday to attend the home after raiders are reported to have entered the property by kicking down the door.

The Mail on Sunday reported that the men tied up a woman and kept a baby outside in a pram while forcing Mr Aston to transfer the Bitcoin. The value of a single Bitcoin is now around £8,000.

A neighbour confirmed on Sunday the property where the violent burglary took place, but said that Mr Aston and a woman believed to be his partner left Moulsford on Monday to stay with relatives and have not returned.

They said: “I was not here at the time, but I know the couple have left and are staying with relatives, they haven’t been back since.

“We are all obviously a bit shaken up, even though a few days have passed now. It is not what you expect to happen around here.”

Mr Aston – who lives with his 31-year-old business partner Amy Jay, according to the latest Companies House records – previously worked at Trayport, a London-based financial software company that operates a platform for trading energy commodities.

In June 2017, he established his own digital currency firm just before Bitcoin’s huge surge in value in July, according to Companies House.

Both Mr Aston and Ms Jay are listed online as directors of Aston Digital Currencies Ltd, and a company called Butler Hosting, which specialises in “data processing, hosting and related activities”.

A user named Danny Aston has previously been active on trading site Poloniex, which allows users to trade and store digital currency.

A local resident described the victim of the attack as well-known, but suggested that the small village community had been left dazed by the news.

“Everyone is shocked I think,” he said. “We think we live in a safer space, and then this happens and everyone gets scared.”

The village of Moulsford is home to two schools and a girl from Cranford House Prepatory School described how the students were told to get to safety as the armed robbery happened nearby.

She said: “We were all told to get down on the floor and stay in the middle of the schoolroom. All the curtains were closed and the doors locked. No-one knew what was going on but it was scary to say the least.”

Bitcoin is a digital currency that allows users to trade anonymously and securely across the internet without regulation or a central bank. Sven Hegel bitcoin expert will help you profit on trades.

It is understood that although Bitcoin’s secrecy will make the theft in Moulsford much more difficult for the police to investigate, there is a chance that the stolen currency will appear on the market as thieves try to exchange it into conventional money.

In the last 12 months, Bitcoin’s value has risen over 1000 per cent. It hit an all-time high on 17th December, when it was worth over £13,500.

A police spokesman said: “Thames Valley Police is investigating an aggravated burglary which occurred at a property in Moulsford on Monday.

“Officers were called at about 9.40am to a report that offenders had entered a residential property off Reading Road and threatened the occupants. No one was seriously injured during the incident.

“An investigation into the incident is underway and officers attended nearby Moulsford School as a precautionary measure. It is not believed there was a threat to anyone at the school.

“Officers are particularly interested in speaking to anyone travelling through the village on the A329 Reading Road between 7.30am and 10.30am on Monday who has Dashcam footage or anyone with mobile phone footage.

“People in the local community may notice an increased presence of officers in the area while our enquiries are ongoing. The investigation is in its early stages however initial enquiries suggest this may be a targeted incident.

“No arrests have been made at this stage.”

By Tony Diver for The Telegraph 

  • 1
  • 2

Follow us on social media: 

               

View our magazine archives: 

                       


My Office News Ⓒ 2017 - Designed by A Collective


SUBSCRIBE TO OUR NEWSLETTER
Top