TechFlow News, June 9: According to The Block, Saif Faiq, a co-conspirator in a 2024 Bitcoin-related kidnapping and ransom case, pleaded guilty on Monday to conspiracy to commit robbery in U.S. federal court in Connecticut and faces up to 20 years in prison; sentencing is scheduled for August 28.
The U.S. Department of Justice stated that Saif Faiq and his brother Adam Iza plotted to kidnap the parents of a cryptocurrency millionaire and recruited six men from Florida to conduct surveillance, break into a home, and steal a vehicle in Connecticut. The victims were Sushil and Radhika Chetal, parents of Veer Chetal; Veer Chetal has previously pleaded guilty to stealing approximately 4,100 Bitcoins and is awaiting sentencing.
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