A man who identified himself as Satoshi Nakamoto has been arrested for bitcoin fraud.
According to Bild, Jorg Molt, a German entrepreneur who claimed to have invented bitcoin and started the Satoshi school, was arrested.
The 48-year-old man was stopped and arrested by the Bavarian police in Frankfurt minutes before boarding a plane flying to South America.
Following his arrest, his apartment in Karlsruhe was searched and evidence was found.
Police have also launched an investigation into a 54-year-old woman who was with him.
Molt is said to have defrauded 50 people of the "Bitcoin Retirement" project worth € 1.8 million ($ 2.14 million).
The German entrepreneur, who also happens to be a DJ, tried to deceive investors using his relatively extensive social network.
In summary, the plan was to use 60% of the total investment to purchase fixed-rate bitcoin mining hardware at a location in Sweden, and to keep the remaining 40% of the funds in a secure account. Molt claimed that it was possible to withdraw money from the account at any time.
The "Bitcoin Retirement" project was halted in 2020 after many members began to express concern about its fraud.
During the investigation, it was revealed that Molt had never intended to invest the bitcoins received from the extraction.


Source: https://u.today/self-proclaimed-satoshi-arrested-over-bitcoin-fraud