From Stripe to Bitcoin: Card Fraud Case Ends in Prison Sentence

A Rochester man’s fraud scheme moved unauthorized credit-card payments through bank accounts before funding bitcoin purchases and transfers to co-conspirators. Timothy Wadsworth received a prison sentence after processing hundreds of attempted charges using account numbers supplied by others. A scheme that converted unauthorized card payments into bitcoin has resulted in a 51-month federal prison sentence. The Department of Justice (DOJ) announced the sentence and restitution order on Oct. 23 for Timothy Wadsworth, 35, of Rochester, New York, following his conviction for conspiracy to commit wire fraud and money laundering. Using account numbers supplied by co-conspirators, Wadsworth attempted 310 payments totaling $1,673,578 through Stripe, which processes card payments for businesses. Between March 10 and May 15, 2020, 116 initially succeeded, totaling $730,728.22.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Bitcoin.com News.