US Edition
Qld man’s waterfront mansion seized by police amid Bitcoin probe
- In 2023, the Australian Federal Police confiscated a waterfront property in Moreton Bay, a 2019 Mercedes-Benz, and nearly 25 Bitcoin belonging to Shane Stephen Duffy, a Queensland resident previously convicted of hacking.
- The seizure followed a multi-year AFP investigation triggered by a 2018 tip-off from Luxembourg authorities about suspicious Bitcoin transactions connected to Duffy.
- Duffy had pleaded guilty in 2016 to fraud and computer hacking involving selling inactive League of Legends accounts, making just over $32,000 in 2013.
- The AFP valued the seized assets at $4.5 million and stated they were restrained on reasonable suspicion of being proceeds of crime inconsistent with legitimate earnings.
- The District Court ordered the assets forfeited to the Commonwealth last month, marking the conclusion of Operation Gouldian, with proceeds to support community initiatives.
21 Articles
21 Articles
Man forfeits $4.5 million in assets - despite not being charged
A Queensland man has forfeited more than $4.5 million worth of assets including a waterfront mansion, a luxury car, and Bitcoin, after they were identified as suspected proceeds of crime.An investigation by the AFP-led Criminal Assets Confiscation Taskforce (CACT) began in September 2018 after authorities were notified by Luxembourg law enforcement about suspicious Bitcoin transactions.The transactions were linked to a Queensland man previously …
Australian Court Ruling Classifies Bitcoin as Money, Could Trigger $640M in Tax Refunds
A court decision in Australia could open the door to as much as $640 million in capital gains tax (CGT) refunds on Bitcoin transactions after a judge ruled that crypto should be treated as money rather than a taxable asset. According to Cointelegraph, the ruling emerged from a criminal case involving federal police officer William Wheatley, who allegedly stole 81.6 Bitcoin in 2019. Judge Michael O'Connell of Victoria determined that Bitcoin qual…
Australian Court Classifies Bitcoin as Money, May Trigger $640M in Tax Refunds - CoinCodeCap
Key Takeaways The ruling came as part of criminal proceedings involving former federal police officer William Wheatley, who is accused of stealing 81.6 BTC from a confiscated wallet linked to a 2019 drug trafficking probe Judge Michael O’Connell noted that Bitcoin holds enough characteristics of currency to be considered a form of money under Australian law. A recent judgment made by a court in Australia has widespread implications for crypto …
Coverage Details
Bias Distribution
- 57% of the sources lean Right
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
