Blockparty Executive Accused Of Stealing 10 Bitcoins From Company

The FBI detained and accused the co-founder of blockchain event startup Blockparty today of stealing $1 million in cash and cryptocurrency from the firm and spending it on luxury items.

The Department of Justice alleged wire fraud allegations against Rikesh Thapa, 28, stating that he misappropriated money stored on behalf of his business in a personal bank account while simultaneously stealing up to 10 BTC from Blockparty’s assets.

Thapa is also accused of stealing $1 million in cash. According to the DOJ, he agreed to keep the money in his personal bank account while the firm investigated banking options. Authorities claim that Thapa eventually refused to return the money and instead spent it on himself.

According to the lawsuit, the money was used for Thapa’s personal needs, which included nightclubs, travel, and apparel.

Thapa is charged with one count of wire fraud, which carries a potential sentence of 20 years in jail. FBI Assistant Director in Charge Michael J. Driscoll said:

“As we allege today, the defendant repeatedly stole from and defrauded the victim company—which he co founded—in order to fund a luxurious personal lifestyle.”

According to the FBI, these violations occurred between December 2017 and September 2019. In December 2019, Thapa quit Blockparty. He later launched VerdeBlocks, a firm that claimed the capacity to convert energy sources to renewable ones utilizing Hedera contracts.

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