Singaporean Malone Lam on trial in US for heading crime ring, stealing 4,100 bitcoins from victim
A Singaporean man is set to go on trial in the US for allegedly stealing and laundering hundreds of millions in cryptocurrency. Malone Lam was arrested in September 2024. Along with accomplice Jeandiel Serrano, he is accused of taking 4,100 bitcoins from a high-net-worth investor — worth more than US$450 million at today's prices. US prosecutors have called the scam one of the biggest cases of cryptocurrency theft in the US by a private individual. For each offence, the Singaporean faces up to 20 years in jail, a fine of up to US$250,000, or up to twice his gains from the scams. Toni Waterman reports from outside the courthouse in Washington DC.
A Singaporean man is set to go on trial in the US for allegedly stealing and laundering hundreds of millions in cryptocurrency. Malone Lam was arrested in September 2024. Along with accomplice Jeandiel Serrano, he is accused of taking 4,100 bitcoins from a high-net-worth investor — worth more than US$450 million at today's prices. US prosecutors have called the scam one of the biggest cases of cryptocurrency theft in the US by a private individual. For each offence, the Singaporean faces up to 20 years in jail, a fine of up to US$250,000, or up to twice his gains from the scams. Toni Waterman reports from outside the courthouse in Washington DC.
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