Millionaire Bitcoin trader Sam Karagiozis gets arrested for drug trafficking

One of the famous millionaire Bitcoin stockholders who has been a self-made person that started crypto ATMs in Australia has been recently arrested with drug trafficking.

Sam Karagiozis, 27, was arrested and arrested by Australian Federal Police for supposedly interchanging 30 kilograms of drugs, such as methamphetamine, cocaine, MDMA, and ketamine.

He has been charged with 14 crimes in regards to drug trafficking, import, and ownership. It is a remarkable fall from elegance for the self-made tycoon man who once called Nick Kyrgios amongst his networks and trooped a Bentley.

Last week AUSTRAC and AFP invaded Karagiozis’s possessions in Bulleen, Templestowe, and Malvern where they saw cash, steroids, as well as cryptocurrency matters. Police claim Karagiozis had led an organized corruption system that had trafficking drugs accepted off the dark website with the help of bitcoin interpretations and genuine occupational for delivery and payment. Karagiozis’s two digital currency exchange industries have been deferred.

The incursion came after police had led a search in regards to the examination in October 2017 in Kew and Mernda that led to the arrests of two men.

AFP-led Criminal Assets Confiscation Taskforce (CACT) have also controlled possessions value adding $2million, such as bank accounts, real estate, vehicles, cryptocurrency, and cash.

Detective Superintendent Hopkins says that ‘When you take the profit out of crime, you hit offenders where it hurts most. Combined with serious criminal charges attracting long prison sentences, this highlights how trafficking drugs are simply not worth it in the long-run,’

Looking back the self-made millionaire admits not only did he jump the gun, but says the buzz around Bitcoin may have also seen it jumped too high, too quickly.

‘I feel like Bitcoin may have risen a bit faster than it was meant to,’ Mr. Karagiozis said.

‘In terms of Bitcoin, with all the media attention you saw the price skyrocket and then the early investors who had made all this profit took their money and cashed out.

Karagiozis, it was followed by big struggles with the launch of his own cryptocurrency – ‘Auscoin’.

Mr. Karagiozis and the company’s other investors hoped to raise $30 million from the initial coin offering (ICO) of Auscoin, but fell a long way short.

Karagiozis seemed to attend the Melbourne Magistrates Court on, 7 March where he was declined bail. The Bulleen in 15 years old had left the university to work full-time at McDonald’s, and by his early 20s, he had total a multi-million dollar property collection before the Canberra-based businessperson made the brave choice to invest in cryptocurrency. He began his reputation with his rags to a riches success story in 2017. He even made friends with tennis superstar Nick Kyrgios as well as Christos, and self-confessed selling them ‘quite a bit’ of Bitcoin, before sitting in Nick’s player’s box at the Australian Open. Bitcoin which is known as a digital currency, and as crypto began in 2009 and which was originally worth just a few cents. Numerous unprofessional dealers are now betting enormous amounts, while start-up corporations use bitcoin to increase money and circumvent the clearness necessary in a stock market drift.

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