Ryan Kennedy, a 30-year-old Bath resident, England, denied eight separate charges of fraudulent activities that involved the use of Bitcoin. As per the reports, Kennedy was brought to the Bristol crown court on September 11.
Despite many past cases of Bitcoin scams, Kennedy’s case is said to be unique in its own way as he used sophisticated strategies to trick his victims from across the globe. Dominic Thomas, Kennedy’s defence attorney, stated, “This is, as far as counsel are aware, the first trial of its kind.”
Kennedy is accused of having stolen Bitcoin worth of £1 million and is charged with the associated crimes from 2014. He allegedly used the money to support his luxurious lifestyle.
The Avon and Somerset Police file charges against Kennedy in June this year, after running an investigation for three years by the Economic Crime Team. Kennedy carries eight charges against him, including that of money laundering and fraudulent trading, which he openly denied in the court on Monday.
Thomas claimed that the case is one of a kind and there would be evidence from all over the world, which includes Finland and America. Under the alleged fraud, Kennedy apparently carried out operations under several different identities and even pretended to be a lawyer from Balliol College, Oxford.
The next hearing for the court is scheduled for December 18, and the trial will start on September 3, 2018.