The legal enforcement authority of the US, the Federal Bureau of Investigation has recently captured the chief technology officer of a blockchain startup in an attempt of stealing user funds from his blockchain startup Blockparty.
What is the crime done by Rikesh Thapa?
The US federal beauty authorities have arrested Rikesh Thapa a US citizen and also the former chief executive of Blockparty. Thapa was alleged to have carried out a wire fraud in his previous company as a part of crimes in the case. As per the primary investigation from the FBI, it’s revealed that Rikesh Thapa used these stolen friends from his previous company Blockparty for all of his luxuries like nightclubs and traveling, and clothes in recent months.
The FBI has also arrested the co-founder of Blockparty for stealing their customer’s funds for their causes. This duo was able to store approximately $1 million from the Blockparty firm as a form of crypto assets and fiat assets. The Blockparty was the event startup that was working with the help of blockchain as its foundation technology.
As per the primary investigation by the FBI’s department of justice, Rikesh Thapa stole all the funds from its former company Blockparty on his access behalf and in his personal account. This common setup in the crypto companies in which the internal teams of the crypto platforms can manage or manipulate all the financial transactions in the crypto companies has been creating difficult situations for the regulatory authorities to access the work cultures of the crypto companies.
The FBI agent Michael Driscollaid further in the investigative charge sheet details mentioned that the defendant Rikesh Thapa was repeatedly stealing funds from the Blockparty platform and then he used to defraud the company. FBI further mentioned that Rikesh Thapa had been operating these transactions from December 2017 until September 2019, which means during the same period in which he was the CTO of Blockparty.
After leaving the blockchain company Blockparty Rikesh Thapa founded the energy rescue company VerdeBlocks which was made with the promise of providing energy with the help of renewable resources. This renewable energy was promised to be given with the help of contracts of Hedera.
The contracts of Hendra are made with the help of Hashgraph which is considered the alternative option to the present blockchain technology as it works on the principle of distributed ledger technology. As Rikesh Thapa is convicted in this wire fraud case he is expected to be sentenced to the maximum penalty of 20 years in US prison.
