TechFlow news, October 22 — According to Cointelegraph, the Australian Securities and Investments Commission (ASIC) has accused Grant Colthup, former CEO of Australian cryptocurrency exchange Mine Digital, of fraud, alleging he stole USD 1.47 million (AUD 2.2 million) from a client.
The client had attempted to use the funds to purchase Bitcoin but never received the cryptocurrency. ASIC alleges that Colthup may have used the funds to repay debts or to buy cryptocurrency for others. The case has been adjourned until December 16, 2024, for hearing. Colthup faces charges under Section 408C of Queensland's Criminal Code Act 1899, which carries a maximum penalty of 20 years' imprisonment.
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