Court documents to clear up the Fairlay (now Bitcoin-Betting) degen1 case.

[raiders72001]

I came across this.

38. On or about June 27, 2019, KIM’s BkofAma account received two wires totaling$60,000. On or about June 27, 2019, $59,000 was transferred from KIM’s bank account toKIM’s account at Gemini7, a cryptocurrency exchange headquartered in New York, NewYork. On June 27, 2019, KIM’s Gemini account had a beginning balance in United Statesdollars of $0.00. On or about June 27, 2019, $59,000 was exchanged into BTC andtransferred from KIM’s account at Gemini to Fairlay. A

The money was returned to the rightful owner.

https://www.justice.gov/usao-ndca/press-release/file/1294636/dl

[Optional]

Thanks. Interesting to hear the full story finally.

[bookie]

Here's the TLDR version I got when I popped the court documents into an AI:

Based on this court filing from July 2020, Douglas Jae Woo Kim was charged with wire fraud for running a cryptocurrency investment scheme between October 2017 and July 2019. Here's what happened:

Kim approached friends and acquaintances claiming to be a cryptocurrency trader, asking for loans supposedly for business purposes and cryptocurrency trading. He promised to repay the loans with interest.

Three main victims were identified:

• Victims 1 and 2 lost approximately 91 Bitcoin and 15,252 Ethereum
• Victim 3 lost $30,000 in USD

Instead of trading cryptocurrency as promised, Kim transferred the funds to online gambling sites like Nitrogen Sports and Fairlay, which operate outside the US. None of the victims knew their money would be used for gambling - they stated they wouldn't have made the loans if they had known.

The specific wire fraud charge stems from a June 27, 2019 transfer, when Kim received $30,000 from Victim 3 and immediately moved $59,000 to a crypto exchange, converted it to Bitcoin, and sent it to Fairlay gambling site.
The total scheme netted over $4.5 million in assets. While one victim (Victim 3) eventually received their money back in May 2020, the FBI learned Kim was still actively soliciting new loans as of February 2020.

[raiders72001]

Your AI is really good. What do you use?